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What is a short pay, or short pay-off?

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Amelia Robinette
TeamRobinette
www.teamrobinette.net  
703-533-8120

Amelia Robinette is trained in personal financial planning and has an extensive background in corporate finance. She brings her skills analyzing the "big picture" to her mortgage clients. Customer service is the most important thing to Amelia and her team of professionals. Obtaining a mortgage can be a stressful process.  It should be taken very seriously… you are dealing with not only very large sums of money, but your home. 

TeamRobinette understands that these are very important and personal decisions and will guide you along the way, removing any mystery from the process. Amelia has several years of experience providing mortgage options to her clients so they are well informed about all programs available. Amelia's focus is on teaching people how to integrate their mortgage into their financial plan, taking into consideration short-term and long term cash goals, as well as overall investment planning.

TeamRobinette also offers commercial mortgages, housing counseling, reverse mortgages, small business financial planning, and construction loans.

What is a short pay, or short pay-off?

Give yourself every advantage when you're facing foreclosure. And get tips on how to avoid finding yourself in that situation. Expert Amelia Robinette explains some of the terminology associated with foreclosure and gives tips to help you get back on track.

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Tags:

Foreclosure

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Property

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House

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Sale

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Mortgage

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Debt

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Host: 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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