Many people are aware that an FHA short refinance is also called and FHA short refi. Then again, many people may not be aware of that. I have found that FHA refinance programs are beneficial for borrowers looking for a fixed rate of interest and lower payment. The problem is that the values of homes and real estate are lower than the mortgage balance. This leaves a normal fha refinance short funds to close the refi; enter the FHA short Refi.
The FHA short refi can assist by lowering the payoff to accomodate the refinance transaction. This will help a borrower who would be short funds to close on teh FHA refinance. There are many mortgage prgrams available but few are as interesting as the fha short refinance.
FHA short Refinance Lenders