Real Estate Law
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Yes, since the reason for your denial was that your income was too high, I strongly recommend that you reapply and you should meet the qualifications this time and get approved.
Please rate the answer 4 or 5 and close out the question Good luck to you. I wish you all the best.
Welcome and thank you for your question. Yes it is possible that a change in your financial position could impact the loan mod being approved.
“Re-submission may be your best option if your loanmodification has been denied for one of the following reasons:
If you fall into one of these categories, then information will need to be gathered and updated prior to resubmitting for a loan modification..."
Was Your Ratio Correct?
If you believe you were eligible for a HAMP loan modification, but didn't know your DTI (debt to income ratio) or NPV and the optimal way to structure these ratios for your lender, then you were setting yourself up for failure from the get-go."
California Homeowner's Bill of Rights http://consumersunion.org/pdf/CA_Homeowner_Bill_of_Rights_Summary.pdf