OK so im new to short sales and I have a quick question …maybe dumb, but what is the purpose of getting the deed and then using the land trust. How is the land trust going to protect me. and if the short sale doesn’t go through what then. what happens to the land trust and do i just deed the house back to the owners?
You’re confusing two separate topics. A Short-Sale means negotiation with a lender to reduce the original loan amount in order to facilitate a sale of the subject property.
A Land Trust is an easy and inexpensive way to keep your name off the title. It’s used as an asset-protection technique.
If I understand your question/statement, you’re confusing the two. Concentrate on getting the short-sale accepted first. Then, depending on what you plan to do with the property if your short sale is accepted, you will decide whether or not to use a land trust.