• Address: 7139 Koll Center Parkway #250, Pleasanton, CA 94566 (map)
• Date Posted: 09/29/09

What is a Short Pay Refinance?


Short Refinancing -


A "Short Refinance" is exactly what it sounds like. Your Mortgage Consultant will work with you to see if you qualify for a refinance even if what you owe on your loan is more than the actual property value. With a short refinance, the current lender agrees to a pay off that is less than the amount owed on the property.

The biggest difference in a short refinance vs. a mortgage modification is that most modifications are temporary change and modification, where as a short refinance is a completely new loan, with a potential new lender and a permanent change to your loan terms. Short refinances also benefit our clients because it can be hundreds of thousands of dollars in reduction of your balance.

It would closely compare to that of a "short sale". The difference is that you aren't having to sell your home, you are simply refinancing as you have in the past and the bank is agreeing to receive a shorter pay off.

Would you like to lower your principle balance?
Would you like to buy your home at current market value?
Would you like to reduce you mortgage payments?

Call me for more details:
Roy 925-474-8156
or email mailto:rrodriguez@ofloan.com