In order to avoid a foreclosure once you have missed out the payments you must write a hardship letter. This letter is the first communication that the defaulting borrower takes up with the lender. This letter helps you avoid a foreclosure. Actually with this letter you communicate them your financial standing and your explanations on the default. Your financial excuse does serves as the plea, provided it is expressed correctly in the hardship letter. This letter is aimed to urge the lending company to consider their case for a 'work out.' The success of your negotiations with the lender is based on this letter, so it must be presented in the right format.