Credit decision / Underwriting

Purchased my home for XXXX in XXXX/XXXX/XXXX and Wells Fargo has my mortgage loan. Interest rates were above 5.75 % and in XXXX was able to refi at XXXX. I was told it was under HARP? Now, that rates have dropped again ; I contacted Wells Fargo and an agent quoted me 3.87 % on XXXX/XXXX/XXXX ; loan balance was XXXX. After turning in numerous documents, tax reports etc., I was denied due to ” debt to income ” being above XXXX %. The loan payment is {$1600.00} and the balance as of today is {$290000.00}. PAYMENTS HAVE NEVER BEEN LATE. PROPERTY TAXES HAVE ALWAYS BEEN PAID ON-TIME. PROPERTY VALUE IS XXXX. My income comes from Social Security, XXXX XXXX and City of XXXX thru XXXX XXXX who handles my required minimum distribution ( RMD ) which this year was $ XXXX+ with a balance of {$98000.00}. I showed proof of ability to increase my income by increasing the XXXX but was denied. By lowering the interest rate from 4.75 % to 3.87 % INCREASES my income by $ XXXX+ monthly. Please help. The major negative in my credit is a ” shortsale ” of a Florida property that I bought in XXXX with XXXX ; that turned out to be a MAJOR financial loss for me. The property sold in XXXX. I DO N’T WANT ANY CASH OUT!

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