The FHA short refinance has been in the news lately. The Housing Bill has sparked more discussion on the FHA refinance short option. The fact is that lenders have a loss severity level that is a function of market values and delinquency level. In many cases, the highest net present value for a mortgage refinance is realized when the lender accepts a short payoff to settle the mortgage debt.
The result can be called an FHA short refinance.
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