Learn about Short Pay-Off Video

Learn about Short Pay-Off

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By: MonkeySee.com - Business

MonkeySee.com is leading producer of lifestyle focused how-to content with over 10,000 videos spanning 169 subcategories.

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Learn about Short Pay-Off -

Learn what foreclose means and what you can do to get back on track -Learn about Short Pay-Off

Learn about Short Pay-Off -

Learn what foreclose means and what you can do to get back on track -Learn about Short Pay-Off

Added: 8/3/09

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Learn about Short Pay-Off

Speaker: What is a short pay or a short payoff? Amelia Robinette: A short payoff is when you pay the balance of your mortgage less than what you owe. For example, you have $100,000 mortgage, the lender is willing to accept $80,000 to release from your mortgage obligation and release the lien on your property. In some cases you can refinance the short payoff for the lower loan amount. If you have assets enough to payoff your mortgage it is extremely important that you consult with a professional financial planner before making that choice.

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Speaker: What is a short pay or a short payoff?
Amelia Robinette: A short payoff is when you pay the balance of your mortgage less than what you owe. For example, you have $100,000 mortgage, the lender is willing to accept $80,000 to release from your mortgage obligation and release the lien on your property. In some cases you can refinance the short payoff for the lower loan amount. If you have assets enough to payoff your mortgage it is extremely important that you consult with a professional financial planner before making that choice.

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