Short refinance

A short refinance is a transaction in which the lender agrees to refinance the borrower's home for the current market value, in effect making it more cost effective for the borrower. The lender agrees to replace the lenders current loan with a new one and pays off the difference. This new loan typically has a lower balance and borrowers typically receive a new interest rate, which is often lower than their former one - resulting in a reduced mortgage payment.(1)

单词	Short refinance
释义	Short refinance 英语百科 Short refinance A short refinance is a transaction in which the lender agrees to refinance the borrower's home for the current market value, in effect making it more cost effective for the borrower. The lender agrees to replace the lenders current loan with a new one and pays off the difference. This new loan typically has a lower balance and borrowers typically receive a new interest rate, which is often lower than their former one - resulting in a reduced mortgage payment.(1)
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