Q: My bank wants a hardship letter for my short sale. Can you give me some tips on what to write?

A: A hardship letter is almost always required by every lender. This letter should be brief and to the point AND it should be no longer than one page. There are three elements to this letter too. First you should apologize to the lender for being in this situation. Second your letter must state what your situation is and why you are having trouble making your payments and finally the letter must indicate that you have exhausted all other efforts to resolve the situation. It goes without saying, but this should be all true. Don't make the mistake of writing more than one page. You will be submitting a lot of information along with the hardship letter and you want the loss mitigation department to actually read this letter. Keep it simple and direct.