Short Refinance: Is It an Option for You?

Homeowners, who are slipping on their mortgage payments and unable to change their financial position, may feel like they are in a dead-end spiral and have no option but to walk away or resort to a short sale. But brokers say that it is possible for underwater homeowners with adjustable-rate mortgages to obtain something called a short refinance. A short refinance is usually when a homeowner negotiates a short payoff with their lender and then