Definition of a Short Refi

Short refinance: This is a process whereby a lender reduces the principal balance of a homeowner's mortgage in order to permit the homeowner to refinance with a new lender. The reduction in principal is designed to meet the Loan-to-value guidelines of the new lender (which makes refinancing possible). 

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Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
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RobertAdams@LVrealestateHELP.com
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