How
TrioNext
works.
Every short sale is different and dependent on several factors that include your personal financial situation, the lenders you are dealing with and your intended outcome.
For instance, do you want to stay or leave? If you stay, would you like the option of repurchase at a later date? No other short sale process provides as many options and benefits as TrioNext. Read below about our process from beginning to end.
How TrioNext works:
Read our entire website.
Read all you can about resolving your debt situation. Understand all your options, including a short sale. Read our entire website. We strive to provide comprehensive information that can help you make your decision. If you’d like, call 1-855-NEXT-123. We’ll answer any questions you may have about the process.
Or send us a question by clicking here. You are also advised to seek the advice of a short sale counselor such as the Home Preservation Foundation at 1-888-995-HOPE. And remember, there is no obligation. We coordinate our services with many mortgage lenders across the country, providing you with new options and greater flexibility to resolve your mortgage debt.
Decide how you want to work with us.
Perhaps the biggest benefit of TrioNext is that it is designed to allow you to remain in your home, if you choose. You will then be paying for a reasonable lease instead of an unrealistic mortgage.
If you’d like to use the TrioNext short sale process, but not remain in your home, click here for a streamlined process that allows you to proceed with the Quiet Short Sale, but doesn’t require that you stay.
If you want to stay, submit an application.
Click here to view the application. There is no charge for your application. Our application process includes reviewing your rental/mortgage history, employment, credit, and income. Our requirements are similar to renting and less stringent than qualifying for a mortgage.
We do this to help determine what monthly housing payment you will be able to comfortably make. We will respond to your application within 48 hours with a timeline and any questions we may have. We then normally complete the review within 5 business days.
Receive a TrioNext Proposal.
Qualifying applicants will receive a TrioNext Proposal that contains the following elements:
1. An approval letter with a preliminary monthly lease payment, and a future option purchase price on the home should you desire to stay in the home, and
2. A Purchase and Sale Agreement that constitutes an offer to sell your home based on its current value. By signing, you are agreeing to sell your home with the proceeds going to your lender.
Upon agreement, your lender will provide a letter of approval for the Purchase and Sale Agreement. If your lender requires an adjustment to the agreement, you will be asked to review a new agreement and you may be provided with a revised lease payment. Nothing can proceed without your express written approval. If you decide not to stay in your home, you will only receive a Purchase and Sale agreement to complete the short sale.
Review the Proposal. Decide to act or not.
Once you and your lender have agreed to the terms of the Purchase and Sale agreement, closing papers will be prepared and an appointment with a qualified closing agent will be scheduled.
Your closing documents will include a lease agreement with finalized monthly lease payment amount—based upon the final sale price. If you opt for an Own Option lease, you will also be provided with the Trio option price of the home.
Get back to living without fear of foreclosure.
The mortgage crisis has been a hugely stressful event for millions of families across America. Home values dropped below mortgage balances. Families have been forced to move. Credit has been damaged. But fortunately, all that is starting to change with new standards and solutions. TrioNext is a clear example of how lenders, servicers, and customers like you, can work together with creative financial solutions to restore financial stability to the market. And get people feeling safe again, free of the fear of foreclosure, in their own homes. We hope you will consider using the Quiet Short Sale to get back to a solid financial footing. We’re here to help and are ready to answer any questions you may have.
