If you are one of the millions of homeowners who is currently facing the possibility of mortgage foreclosure, then short sale may be an option for you.
If you are investigating short sales, there are terms that you will need to learn. One is TRIO. A TRIO is part of the information that will be needed to successfully complete a short sale.

A TRIO is comprised of three things; hence the term TRIO. Those three components are a broad overview of the property, a Plat Map and a recorded deed. All three need to become a part of the short sale information packet. Fortunately, all three are relatively easy to locate.

The first item in a TRIO is a broad overview about the subject property involved in the proposed short sale. This includes basic information on the county, owner, land, building, tax and legal descriptions.

The second item in the TRIO is a Plat Map of the subject property involved in the proposed short sale. The plat map shows the properties lot description and how it is situated in relation to the surrounding properties and streets.

The third and last item in the TRIO is a copy of the recorded deed for the subject property involved in the short sale.

While some would advocate that the seller become an expert at document research with the appropriate government agency, there may be an easier option. Start with a title insurance company. Simply call the title company, explain that you are selling your property and that once the Short Sale offer is accepted by the lender, your intent is to close using that title company's service. Given those circumstances the cost likely will be nothing for a copy of a TRIO for the subject property.

More info on your stop foreclosure information search:

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