1. Should I handwrite my financial hardship letter like everyone is telling me to do?
Answer: No! We tell you why in "My Hardship Letter E-Book".

2. Is there ever a situation where it would be OK to handwrite a letter for hardship?
Answer: Yes! Find out when in "My Hardship Letter E-book"

3. Should I disclose everything in my Hardship Letter?
Answer: No. We tell you what should and should not be disclosed.

4. I was told to add some hardships I don't really have, can I get in trouble for that?
Answer: Yes! You can go to jail for foreclosure fraud if you fabricate your letter of hardship!

5. What are the top three things that will determine if I get a short sale approval letter?
Answer: A Hardship letter is one and learn the other two important components in "My Hardship Letter EBook"

6. If my deal is close on numbers and I have a second lien, what usually becomes the deciding factor besides my financials whether or not the lender will agree to the HAFA short sales program where I don't have to pay a deficiency balance or promissory note?
Answer: The short sale Hardship Letter!

7. What percentage of Hardship Letter samples do not adequately describe the homeowners total and complete hardship they are facing?
Answer: 98%!

8. Do the lenders actually read the hardships letters?
Answer: Absolutely and many are supposed to summarize the hardship into their computer systems for the investors to review.

9. When should I detail my age and when should I avoid providing my age in letters of hardship?
Answer: If you are over 55yrs old, you point out you are about to retire and or your health is not the same as it once was if that is applicable. Find out more about age and health in "My Hardship EBook".

10. When should I include and or focus on my personal business in the letter of financial hardship?
Answer: Always include if it is one of the reasons for the hardship is a failing business. Leave it out if your business is thriving.

11. Do the lenders really look at all my purchases I made on my credit cards, debit cards and checks?
Answer: YES! If you are using the same bank, many banks do. Your checking account statements also will reveal these items when you provide to lenders that are not your primary banking institution.

12. Will a lender ask me to pay more money if they see I have been purchasing luxury items like getting my nails done weekly?
Answer: Absolutely! One client had to pay $4,000.00 more for a deficiency amount due to excessive purchase of luxury items including getting her nails done weekly. Her letter of hardship for short sale did not match her spending activity.

13. Is there a list of luxury items I should not purchase while trying to settle my debt that banks look for?
Answer: Yes. We provide you a complete list of items banks consider luxury items which will flag your account to get more deficiency money from you.

14. What verbiage do you put on a letter of Hardship format to make it a Confidential Settlement Communication so the lender can't file it in court later if they try to file suit?
Answer: If you purchase the Wizard Writer, we stamp each letter with verbiage attorneys suggest putting on Hardship letters to make them Confidential Settlement and Health Communications.

15. Does stress and confidential health information provided in a loss mitigation hardship letter constitute a Confidential Health Privacy Communication?
Answer: Most experienced attorneys think so, if you label the letter with the right verbiage to place the reader on notice. The Wizard Writer stamps each letter with verbiage to indicate the example hardship letter contains confidential Health Information.

16. Should I use a credit card hardship letter to settle personal credit card debt?
Answer: Each situation is different and you must make your own decisions. However, if you have a true hardship then providing the credit card company with your creditor hardship letter may help in securing lower settlements. The reason most people get sued when they have debt obligations is the lender or debt collector suing doesn't know whether you have money or not. So the reason they sue is to find out what assets they can attach to get their money back. Debt collection is still a business. Suing people when there is no possible way to get your money back is a losing business model. So creating a credit hardship letter is something you should consider and or discuss with your legal counsel. Lawyers and business who are informed there is no money to garnish or assets to attach would rather make settlements in most situations especially in states where you have tough debt collection laws and consumer protection statutes like the state of Florida.

17. Can I use and should I use a business hardship letter in trying to settle business debt?
Answer: Absolutely. See answer #16. Again, most people and businesses are sued because the lender and or attorney suing doesn't know the complete situation. Many times providing effective hardship letters and providing updated financials will allow most debtors and businesses to settle their debt obligations for 10-40 cents on the dollar with payment terms. However, it is not recommended you do this on your own. You should work with a specialized debt arbitration company.

18. How important is it to have a good loan hardship letter to get a loan modification?
Answer: It is just as important as to have good loan modification hardship letters as it is to have good short sale letters. Many loan mods that are questionable of whether or not to approve is many times dependent upon the hardship the homeowners faced.

19. Should I ever disclose anything about my retirement funds in my examples of hardship letters?
Answer: Sometimes you do and sometimes you don't. We explain when to disclose retirement funds in the "My Hardship Letter EBook" and also have it integrated into the Wizard Writer.

20. Will good financial hardship letters help to settle tax debts like IRS and or State Taxes?
Answer: Absolutely! There probably isn't anything more important in helping to resolve your tax problems than having good examples of hardship letters. A good letter can help you have your tax burden reduced and even get favorable payment terms. If you and or your accountant are submitting an Offer in Compromise letter to request your taxes be forgiven and or reduced below 40 cents on the dollar, then it is imperative you know how to write hardship letters.

21. Can I really complete a sample letter of hardship in less than 10 minutes if I use the Wizard Writer?
Answer: We suggest you take 8 minutes to review the Wizard writer tutorial. Once you complete the tutorial, it should take you approximately 8-12 minutes to complete your customized sample letter of Hardship. Watch the tutorial now: Movie Tutorial