Short Sale/Land Trust Question

I have negotiated a short sale for $59,000 and have it sold for $75,000. My buyer is having some issues obtaining financing and can’t close by the pay off date of 12/15/2006. I really don’t want to go back to the bank and ask for another extension since I have already asked for 3 extensions and I am afraid they will ask for a per diem or take the $59,000 off the table.

I have a money partner that can fund this deal by 12/15/06. Should I fund the deal and transfer the property to a land trust? Will this help keep the title seasoning in tact for my buyer’s lender? Any advice would be greatly appreciated.

Fund the deal any way you can to keep the equity in your pocket until you find a qualified buyer.

Titling in the name of a trust does nothing to preserve title seasoning because the bank will no longer be the beneficial owner.