| Short Refinance |
Short Refinance (Short Refi) is a next option to loan modification. It is a transaction, where the current lender agrees to accept less than the full amount owed on your property. It resulted in reduction of principal on a loan.
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Key differences:
The process is similar to a short sale but, instead of the property being sold, it is refinanced with a new lender. The short-refinance allows the homeowner to retain ownership of the property.
In many cases, short refinance requires approval and consent from a new lender and will require better credit score along with a reasonable debt-to-income ratio. We are working with the largest pools of lenders, which are available to help with short refinance.
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