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Doing A Short Refinance Here in Arizona we've been seeing a gigantic decrease in home values. We're also seeing a lot of people who purchsed homes with adjustable rate mortgages have their payments go up. This is driving a large surge of Short Refinances through FHA Secure. Basically the FHA Secure Short Refinance is doing a refinance and when you pay off the bank, they accept a discount on the amount you owe. That's the simplest explanation of what a short refinance is that I've ever written.

Contributed by Paul Dunn on August 17, 2008, at 4:53 PM UTC.

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This intel was contributed by Paul Dunn Paul Dunn

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