The lender wants details on your current financial status. You need to show that your financial situation is desperate. Typically, you’ll have to be 30 to 90 days behind in your payments and have no significant cash, savings, retirement plans, stocks, bonds, cars, boats, vacation homes, time shares, jewelry, etc., that you can use to catch up or reduce your debt. And, that your situation is not likely to change in the foreseeable future that would allow you to bring the mortgage current. You should supply as much evidence and documentation as possible, such as divorce papers, evidence of job loss, delinquent accounts, utility shut-off notices, car repossession paperwork, your last two years’ tax returns, recent pay stubs and recent bank statements. Include any mitigating circumstances, such as medical problems or the loss of a job. The more convincing and sympathetic, yet truthful, the letter is, the more likely your lender will agree.