short refinance

Definition of "short refinance"
  1. It refers to a process where a lender decides to lower the total amount required to settle a mortgage and forgives the remaining balance
How to use "short refinance" in a sentence
  1. The homeowner opted for a short refinance to relieve the burden of his mortgage loans.
  2. To accommodate the client's financial circumstances, the bank offered a short refinance on their mortgage.
  3. By accepting a short refinance, the client avoided foreclosure on their property.

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