I recieved the forms from wells fargo to fill out for the financial worksheet, hardship affidavit and income verification but when I turned it in, wells fargo denied it saying we have a $900 difference between monthly income and monthly expenses which is too high. I am preparing to reapply and my questions to Moe and the experienced ladies and gentleman out there are;
1. How high or low should the difference in monthly expenses and income be?
2. Should I report my 401k which is about $50000 on the financial asset form?
3. Should the property be worth more or lower than how much I owe on the house?
Any other advise and suggestions will be much appreciated.