short refinance


: a refinance of a mortgage in which the lender agrees to reduce the amount owed and forgive the remainder

Note: Short refinances are used by lenders as an alternative to foreclosure.

Dictionary Entries Near short refinance

Cite this Entry

“Short refinance.” Legal Dictionary, Merriam-Webster, Accessed 18 Jul. 2024.

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!