From Chapter 13 of The Book
A Short Refinance Is Better Than A Short Sale If Your Goal Is To Keep Your Home
A Short Refinance Is Is Better Than A Short Sale If Your Goal Is To Keep Your Home.
A Short Refinance is when your current mortgage company agrees to accept a lesser amount than what is actually due to pay off your mortgage in an effort to allow you to refinance your home to avoid foreclosure. Make sure that your current mortgage company is agreeing to “forgive” any shortage amount, and that you will not be held responsible for any unpaid mortgage balance or deficiency.
A short refinance may be the answer that you have been searching for. If you are one of the millions of homeowners at risk of losing your home, there are several loan programs and options available to you to help you save your home, avoid foreclosure and save your credit.
This type of refinance program is just one of the many unheard of programs highlighted in the book "You Can Achieve The American Dream...With The Right Keys".