Document background
The Hardship Mortgage Letter is a crucial document in Qatar's banking and real estate sector, utilized when borrowers face significant financial difficulties affecting their ability to meet mortgage obligations. This document becomes necessary when unexpected circumstances such as job loss, medical emergencies, or business downturns impact a borrower's payment capacity. The letter must be drafted in accordance with Qatar's Civil Code, Qatar Central Bank regulations, and where applicable, Islamic finance principles. It should comprehensively present the borrower's situation, including detailed financial information, cause of hardship, and proposed payment solutions. The document is particularly important in Qatar's regulatory environment, where both conventional and Islamic banking systems operate, requiring careful consideration of both legal and religious compliance aspects.
