Posted on: 13th Dec, 2010 06:44 pm
is there such a "short pay refinance" i've been contact by a broker negotiator who says there is such a program i n conjunction with the 2010 us mortgage relief program.
Hi Guest!
Welcome to forums!
The option of short pay refinance is available with some of the lenders. You should contact your lender and check out if he can offer you help in this matter.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The option of short pay refinance is available with some of the lenders. You should contact your lender and check out if he can offer you help in this matter.
Feel free to ask if you've further queries.
Sussane
Yes. Your current lender will have to agree to accept a lower pay off amount. Some lenders will require that you show financial hardship while others will be willing by providing an appraisal. Obviously, they will do research as well. I've done several. It's not a quick process.
Last year I did four "short-refinances" combined with Reverse Mortgages, but each one was a slow painful process.
