What Do You Do When You Cant Modify-- You SHORT REFI!

When a Loan Modification won't solve the hardship a homeowner is facing then a Short Refinance is the next option to explore. This solution is our most powerful tool in mortgage negotiation. "Short Sale" has become a well known solution to avoid foreclosure but "Short Refinance" is the most effective option available to help families lower payments, retain their homes, and eliminate upside down equity in their homes! The same motivating circumstances that has lenders allowing homeowners to "Short Sell" their homes is allowing them the "Short Refi"! With Foreclosures on the rise and short sale becoming a common phrase, there was a real need for someone to step up to the plate and Save these homes! We answered the call! By working with us you put 10 years of negative equity negotiating to work for you!

What exaclty is a Short Refinance?

A short-refi, short refinance, or also known as a short-payoff, is a transaction, where the current lender agrees to accept less than the full amount owed on your property. This process is similar to a short sale but, instead of the property being sold, it is refinanced with a new lender. The short-refinance allows the homeowner to retain ownership of the property, while at the same time avoiding a foreclosure or possible bankruptcy and best of all wiping out negative equity!

Why Short Refinance?

If you want to keep your home, but don't have enough equity to get into a refinance loan, you have tried a loan modification and it didn't work, then a short refinance is your answer. We can get your LTV (loan to value) right where you need it to be in order to refinance! It's a well known fact that there are companies out there that will do foreclosure bailouts, but the main draw back is that the LTV needs to be between 60% - 70%, with most lenders tightening there belts down to the 60% notch. Most homeowners have LTV's between the 75% - 100+% range. The problem with this is that most lenders won't accept them. Therefore, by negotiating a short-refi with your current lender, you can obtain a payoff of less than the full amount owed, getting your LTV where it is needed to refinance your home with a new lender. Thus, also creating equity in your home, where before you had little or none.

How Does a Short Refinance work?

A short refinance transaction is a two part process. The first component is the equity re-negotiation with the lender. The second component is obtaining the refinance loan approval. We can handle the first component for you but, you must make sure you are working with a true mortgage professional who can assist you with the second component, obtaining the refinance approval.

The process to complete a short-refinance usually takes 6-8 weeks. It can take longer, depending on the current lender! If you don't have enough equity and you need mortgage relief, we can eliminate your upside down equity and put you in a position to qualify for a refinance loan!

Visit our website-www.theplatinumpros.com

Courtesy of Captain Save A Loan