Short Refinance

It's True. We Can Negotiate to Reduce What You Owe...

What is a Short Refinance?

Unfortunately, many people today are finding themselves in a surprising and difficult situation -- they owe more on their mortgage than their home is even worth.

If you find yourself in that situation, a short refinance is an incredible option to explore.

Essentially a short refinance is a process in which you refinance your loan, and your lender agrees to forgive the amount of principle above what your home is currently worth.

Ultimately, you stay in your home with a new mortgage at a different interest rate, and a lower principal.

Example of a Short Refinance

Let’s assume you took out a home loan for $300,000, with an interest rate of 6.75% over 30 years.

But today, your house only appraises for $225,000.

After a short refinance, the principal on your mortgage would be reduced to $225,000, and you'd refinance today's low rates.

Here is how it might look:
 

Our Short Refinance Experts Negotiate For You.

CREFCO will negotiate with your lender to forgive $75,000 of your principle based on your home’s current value. We then refinance your loan with more affordable terms, as well. Based on this example, CREFCO can get you a lower interest rate and save you over $700 per month.

Is a short refinance right for you? If you're interested in exploring this option, simply answer a few simple questions and one of our principal reduction experts will contact you!

Is There a Catch? To some, a reverse mortgage sounds too good to be true. After all, it's not often a bank just erases a debt, right? But the fact is, a short refinance can be a win-win proposition. When negotiated properly, it becomes clear to the bank that foreclosure costs more money, time, and effort than the short.

What Clients Say "Helped me when no one else would." J Hembree

Did You Know? A short refinance is also known as a principal reduction because the amount you owe is reduced to your home's present value.