Loan Modification Request Letter
[Your Company Name]
[Your Company Address]
[Your Company Email]
September 3, 2050
Floyd Cremin
Portland, OR 97201
Dear Mr. Cremin,
We have received and reviewed your request for a loan modification and are pleased to inform you that we are prepared to offer a revised loan arrangement. Your current loan balance of $40,000 with an annual interest rate of 5.5% will be modified to a new interest rate of 4.0%, with an extended repayment period of 6 years. The new monthly payment will be $642.12, beginning on November 3, 2050.
This modification aims to provide you with more manageable payment terms. Enclosed with this letter are the updated terms and conditions of your modified loan agreement, including details about the new payment schedule and any changes to the loan’s terms. We also require a confirmation of your current financial situation and updated income information.
Please review, sign, and return the enclosed agreement by September 15, 2050, to finalize the modification. If you have any questions or need further assistance, please do not hesitate to contact our loan servicing department at [Your Company Email] or [Your Company Number].
We appreciate your continued commitment to fulfilling your loan obligations and are here to support you through this adjustment.
Sincerely,
[Your Name]
Loan Officer
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