When you submitted your financials to
CW, how much of a surplus was left over? I have seen that this makes a difference with
CW recommending a modification. I successfully had 3 of my rental properties modified without being delinquent on any payments. The numbers should work so that you have a $100-$250 surplus left over after all bills are paid.
I am helping a friend of mine with her
CW mod request. The first time she called in and gave her financials, she had a surplus of about $260 and was denied. She called in again a few days later after making some changes to her financials and had a surplus of about $170...that seemed to do the trick! Now she is just waiting on the processing for an approval or denial.
Also, the decision to modify or not depends on who the investor is on your loans. The investor on my loans is Aurora. I have a 4th loan with
CW and the investor is not Aurora (I don't know who it is) and it was denied.
Hope this helps you!