How Not to Write a Hardship Letter

`` The big problem with this letter is that Mr. Bailey doesn't simply present a budget and a proposal. The letter needs to say something like this: "My current income is $xxx per month. My monthly expenses [itemized] are $xxx per month. I believe I can add $xxx per month to income by taking in a boarder. That means that I can continue to pay my mortgage if we can reduce the monthly payment to $xxx." ''