short refinance

noun

Legal Definition of 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.

Learn More About short refinance

Dictionary Entries Near short refinance

short rate

short refinance

short sale

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Cite this Entry

“Short refinance.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/short%20refinance. Accessed 17 Jan. 2022.

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