Fannie Mae Form 194 PDF Details

In the landscape of foreclosure prevention, the Fannie Mae Form 194, known as the Hardship Affidavit Form, stands out as a critical tool designed to pave the way for homeowners facing financial distress to communicate their circumstances to their loan servicers. This form requires borrowers to detail their personal and loan information, including their names, dates of birth, property address, and loan number, setting the groundwork for an honest and structured dialogue about their current financial situation. By allowing homeowners to check specific events that have contributed to their hardship, such as reduced household income, excessive monthly debts, increased expenses, or insufficient cash reserves, the form encapsulates a broad spectrum of financial dilemmas. Beyond mere identification of financial strain, the form doubles as an agreement wherein borrowers acknowledge the veracity of their claims, consent to potential investigations by the servicer, and understand the consequences of misrepresentation or fraud. This acknowledgment section underscores the gravity of the information provided and the earnest plea for assistance it represents. Furthermore, borrowers consent to the sharing of their personal information with relevant financial institutions involved in their mortgage, illustrating the interconnected nature of financial assistance initiatives and the importance of transparency in the pursuit of foreclosure prevention alternatives. Through the Hardship Affidavit Form, Fannie Mae provides a structured pathway for distressed homeowners to seek help, explicitly laying out the responsibilities and expectations from both the borrower and the servicer side, thereby fostering a clearer understanding and facilitating the process of finding viable solutions to avoid foreclosure.

Form NameFannie Mae Form 194
Form Length2 pages
Fillable fields0
Avg. time to fill out30 sec
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Hardship Affidavit Form

Borrower Information

Borrower Name (first, middle, last):

Date of Birth:

Co‐Borrower Name (first, middle, last):

Date of Birth:

Property/Loan Information

Property Street Address:

Property City, ST, Zip:


Loan Number:

In order to be evaluated for a foreclosure prevention alternative (“Foreclosure Prevention Alternative”) offered by

____________________________ (“Servicer”), I am submitting this form to the Servicer and indicating by my

checkmarks the one or more events that contribute to my difficulty making payments on my mortgage loan.

I am having difficulty making my monthly payment because of financial difficulties created by:

(check all that apply)

My household income has been reduced. For example: unemployment, underemployment, reduced pay or hours, decline in business earnings, death, disability or divorce of a borrower or co‐borrower.

My monthly debt payments are excessive, and I am overextended with my creditors. Debt includes credit cards, home equity or other debt.

My expenses have increased. For example: monthly mortgage payment reset, high medical or health care costs, uninsured losses, increased utilities or property taxes.

My cash reserves, including all liquid assets, are insufficient to maintain my current mortgage payment and cover basic living expenses at the same time.


Fannie Mae Form 194

Page 1 of 2

April 2011

Hardship Affidavit Form

Borrower/Co‐Borrower Acknowledgement and Agreement

1.I certify that all of the information in this Hardship Affidavit is truthful and the event(s) identified above has/have contributed to my need for a Foreclosure Prevention Alternative relating to my mortgage loan.

2.I understand and acknowledge the Servicer may investigate the accuracy of my statements, may require me to provide supporting documentation, and that knowingly submitting false information may violate Federal law.

3.I understand the Servicer may pull a current credit report on all borrowers obligated on the note relating to my mortgage loan.

4.I understand that if I have intentionally defaulted on my existing mortgage, engaged in fraud or misrepresented any fact(s) in connection with this Hardship Affidavit, or if I do not provide all of the required documentation, the Servicer may cancel a Foreclosure Prevention Alternative and may pursue foreclosure on my home.

5.I certify that I have not received a condemnation notice on my property.

6.I certify that I am willing to provide all requested documents and to respond to all Servicer communication in a timely manner. I understand that time is of the essence.

7.I understand that the Servicer may use this information to evaluate my eligibility for a Foreclosure Prevention Alternative, but the Servicer is not obligated to offer me assistance based solely on the representations in this Hardship Affidavit.

8.I understand that the Servicer may collect and record personal information, including, but not limited to, my name, address, telephone number, social security number, credit score, income, payment history, and information about account balances and activity. I understand and consent to the disclosure of my personal information and the terms of any Foreclosure Prevention Alternative offered by the Servicer to any investor, insurer, guarantor or servicer that owns, insures, guarantees or services my first lien or subordinate lien (if applicable) mortgage loan(s).

_________________________ ___________

_________________________ ____________

Borrower Signature


Co‐Borrower Signature


Fannie Mae Form 194

Page 2 of 2

April 2011

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