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SD Realtor
Participantflu I understand but what is on the tax record and what the lender requires are orthogonal. The lender will not lend to a trust, period. The lender will lend to a person or persons for residential real estate. Forget corp entities for the moment. So in order to get financing the trust deed will be in their name. No way around it. Once that is recorded then that will be on the tax record. Now, they can create a trust and move it into the trust and record that deed. However the initial financing will be done AND recorded in their name. If they wanna pay cash for the home, then it is a different story.
Participantflu I understand but what is on the tax record and what the lender requires are orthogonal. The lender will not lend to a trust, period. The lender will lend to a person or persons for residential real estate. Forget corp entities for the moment. So in order to get financing the trust deed will be in their name. No way around it. Once that is recorded then that will be on the tax record. Now, they can create a trust and move it into the trust and record that deed. However the initial financing will be done AND recorded in their name. If they wanna pay cash for the home, then it is a different story.
Participantflu I understand but what is on the tax record and what the lender requires are orthogonal. The lender will not lend to a trust, period. The lender will lend to a person or persons for residential real estate. Forget corp entities for the moment. So in order to get financing the trust deed will be in their name. No way around it. Once that is recorded then that will be on the tax record. Now, they can create a trust and move it into the trust and record that deed. However the initial financing will be done AND recorded in their name. If they wanna pay cash for the home, then it is a different story.
ParticipantWrong way… Buy the home first and then move it into your living trust. You will never be able to buy it in the name of the trust because you will not be able to finance it. We have our home and rental in our trust but every time we refi them we have to move them in and out.
ParticipantWrong way… Buy the home first and then move it into your living trust. You will never be able to buy it in the name of the trust because you will not be able to finance it. We have our home and rental in our trust but every time we refi them we have to move them in and out.
ParticipantWrong way… Buy the home first and then move it into your living trust. You will never be able to buy it in the name of the trust because you will not be able to finance it. We have our home and rental in our trust but every time we refi them we have to move them in and out.
ParticipantWrong way… Buy the home first and then move it into your living trust. You will never be able to buy it in the name of the trust because you will not be able to finance it. We have our home and rental in our trust but every time we refi them we have to move them in and out.
ParticipantWrong way… Buy the home first and then move it into your living trust. You will never be able to buy it in the name of the trust because you will not be able to finance it. We have our home and rental in our trust but every time we refi them we have to move them in and out.
ParticipantWhat do you want to know?
It is a short sale and the agent is up in the San Fernando Valley and he is pipecleaning.
ParticipantWhat do you want to know?
It is a short sale and the agent is up in the San Fernando Valley and he is pipecleaning.
ParticipantWhat do you want to know?
It is a short sale and the agent is up in the San Fernando Valley and he is pipecleaning.
ParticipantWhat do you want to know?
It is a short sale and the agent is up in the San Fernando Valley and he is pipecleaning.
ParticipantWhat do you want to know?
It is a short sale and the agent is up in the San Fernando Valley and he is pipecleaning.
ParticipantIf anyone wants stats all they have to do is ask and we will post!
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