Avoiding Foreclosure Properties With A Short Pay Or Refinance

Foreclosure properties are the worst on your credit. You do have options to save your home and you should try and exercise everything you can so you can hang on to it as long as you can. A short pay or refinance is an option that you should look into.

A short refinance is the best way to avoid showing up on the list of foreclosure properties in the local newspaper. The way to do this is by refinancing your home. The way this works is that the lender will take the arrearages that you owe on the home and add them to the remaining principal balance and come up with a new total that you owe. That will be your new loan amount that you owe.