With a Short Refinance the homeowner can keep the property and reduce their mortgage payments and the balance of their loan.  A short refi is similar to a short sale in that the lender takes a loss based on the current value of the home.  However, unlike a short sale, the homeowner doesn’t walk away from the home in a short refi.  The home is refinanced at the new value and the loan balance and mortgage payment is reduced.  This e-mail address is being protected from spambots. You need JavaScript enabled to view it This e-mail address is being protected from spambots. You need JavaScript enabled to view it .