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What is a Short-Pay?

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Joined: 21 Sep 2008

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Post Posted: Wed Mar 10, 2010 4:01 am    Post subject: What is a Short-Pay?
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What is a short-pay? Lender offered this as an option since value of my home may have decreased. Lender said this is different than a short-sale or Modification.
Icon Mini Profile Niicss
Niicss




Joined: 03 Oct 2005

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Location: New Jersey
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Post Posted: Thu Mar 11, 2010 3:00 am    Post subject:
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Your query has been replied to in the given page:
http://www.mortgagefit.com/problems/short-pay.html

Take a look at it. Hope it helps you.

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Joined: 15 Mar 2010

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Post Posted: Wed Mar 17, 2010 2:52 am    Post subject: Short Pay
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A SHORT PAY in real estate occurs when the outstanding monetary obligations (loans with recorded deeds of trust and liens) against a property are greater than market value or what amount the property can be sold for.
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