WHAT IS A SHORT REFI? BROUGHT TO YOU BY UNITED HOME MORTGAGE CENTER & Nicky Chambless

A short refinance allows a homeowner to refinance to a new affordable loan, at a loan amount less than the current loan balance owed. This would require the lender or lenders in some cases, to agree to refinance your loan to another loan to an amount less than the amount due on the defaulted or troubled loan. There are many reasons that a lender might agree to do this, all of which will require you to prove that you could afford the new loan, as opposed to your present loan, most likely for reasons beyond your control. The goal is to refinance your present loan to avoid loss in asset devaluation and pending resets. This would allow your homeowner; ☻ to stay in their home, ☻create part of the ‘equity’ that was lost in the massive home devaluation ☻obtain eligibility & affordability. TODAYS MORTGAGE RATES 15 yr fixed mtg 5.91% 30 yr fixed jumbo mtg 7.45% 30 yr fixed mtg 6.38% 30 yr FHA mtg 6.48% 40 yr fixed mtg 6.75% 5/1 ARM 5.86% 5/1 jumbo ARM 6.4% 7/1 ARM 6.18%