what is a short refinance?

Asked by Cod, Bronx, NY Wed Mar 19, 2008

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6
Mim Heisey, , Shippensburg, PA
Wed Mar 19, 2008
I am not familiar with the term short 'refinance'. However there is a similar term-- 'short sale' with which I am familiar.
A short sale occurs when the buyer purchases for less $$ than the current owner owes on the property. Such a sale requires that not only the current owner, but also the mortgaging entity, agrees to the price and terms as someone (often the bank/mortgage company) is coming up 'short'.
In my experience such sales take a good deal of knowledge of the process and more than a little patience as banks are not anxious to give away their money. A purchaser wants to be very sure that they are indeed getting clear title with all liens removed.
Experience does count her as in many situations.
Hope that helps.
1 vote
Jorge Lopez, , Garden City, NY
Mon Sep 1, 2008
Short Refinance,Short pay Loan modification Short sales

http://www.nvdnetwork.com


The Processing

Short Refinance

Many more lenders are accepting Short refinance. We are providing a free pre qualification to all our customers. From the day we get the file we will start the process. No holding the file we have the staff and the experience to get it done as soon as possible.You will receive a tracking number once we receive the file. Status

Loan Modification

Many loan modification you can tell right from the beginning if it can be done or not.Right from the beginning we will let you know if it can be done or not. You will receive a tracking number once we receive the file.Status

Short Sale

Once we receive the file we will work on it from the day we receive it . And if there is anything missing in the file we will contact you immediately. We understand that closing the files its very important.You will receive a tracking number once we receive the file.

Credit Repair

The file will be assigned to a processor immediately. You will receive a tracking number.

if you have any questions please feel free to contact me at 1-866-570-4040
Web Reference:  http://www.nvdnetwork.com
0 votes
Brett Wyman, , Boston, MA
Fri Jul 25, 2008
A short refinance is similiar to a short sale, but allows the homeowner to refinance into a fixed rate loan with a lower principle balance. We negotiate with your current lender so they will forgive some of their note balance to make this possible; similar to a short sale. Go to http://www.rcsShortsales.com to learn more about a short refinance.
Web Reference:  http://www.rcsShortSales.com
0 votes
John Lawler, Agent, Hilo, HI
Tue Jul 8, 2008
A short refinance is similar to a short sale only you (the borrower) refinance the house with a new lender and become the buyer of your own house. To learn more go to http://www.short-refinance.com
0 votes
Caesar Galin…, , Staten Island, NY
Thu Mar 20, 2008
Hello Iolanda, I agree with my colleguaes that I am not sure what you mean by a short refinance. You probably meant a short sale, if not, you can contact any of us so we can help you clarify this answer. I will be doing some research for you and attempt to provide you with some information.

Needless to say, this is no commitment and you wont be harass, I appreciate your questions since this will help me by doing research to help you and to help anyone else that might have the same question.

If you have any additional questions dont hesitate to contact at Cgalindo@prosperityREG.com or you can contact me at my office at 718 698-2179.
0 votes
J.D. "Dan" &…, Agent, Orange Park, FL
Wed Mar 19, 2008
Hi, You might want to restate your question. It sounds like you have merged two seperate functions of the mortgage industry

JD "Dan" Weisenburger, GRI
Broker-Associate
Vanguard Realty, Inc., GMAC Real Estate
Web Reference:  http://www.neflahomes.com
0 votes
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