As the Loan Officer for Brighton National Bank, You Processed

As the loan officer for Brighton National Bank, you processed a home loan four months ago for James and Lance, two former college roommates. They purchased a foreclosed home, which they planned to fix up and sell to pay off their college loans. Two months ago Lance was laid off from his job. As a result, the income stream they planned to use for the remodel has decreased significantly, and they have not been able to finish the remodel and put the home on the market. They are now two months behind on their mortgage payment. Write a collection letter requesting they bring the amount owed current. The outstanding balance is $8,473.18. Add any necessary details.