Short Pay Refinance
This is a new program allowing homeowners to re-finance their own home at the current market price. Here we find you a new lender and then negotiate with your existing mortgage company to short pay your loan resulting in little or no effect to your credit. You need to be up-to-date on your mortgage, but you could lower your principal by up to half of your current balance and give yourself a payment you can live with.
There are a number of ways that we as a society are attacking this.
Some are taking it to court
This is an article from msnbc.com
http://www.msnbc.msn.com/id/28877173/
Luis Molina is not a lawyer and he has never played one on TV.
But that didn’t stop him from putting on his best suit, marching into a Miami courtroom this month and going up against an attorney with 30 years of experience to stop a foreclosure proceeding against his family’s home. Molina did such a good job of representing himself that the judge in the case thought he was a lawyer and punctuated his ruling in Molina's favor by tearing up the other side’s motion for summary judgment and throwing it over his shoulder.
“I felt like a million dollars,” Molina told msnbc.com, describing his day in Judge David C. Miller's courtroom in Florida’s 11th Judicial Circuit Court. “I felt like if there was anything in my life that I had done correctly, it had to be that. Every single lawyer after the fight came over and shook my hand.”
This person tool an alternative route to the short pay refinance option. we have a sister site www.savemymansion.com
some blogs that have come up