Land Trusts Versus Full Disclosure To The Lender?
I have read opinions from various sources which say to use land trusts to buy houses subject to, while other sources say just be completely upfront about it to the banks....that they are just happy to continue recieving money. What do you guys and gals recommend?
If someone is familiar with Land trusts, I asked some questions about them in the foreclosure forum.
Whether you are doing land trust or deeding the property in your name, you should always inform the bank.
Land trust just keeps the ownership of the property private, also allows a degree of protection from future mechanic liens and judgments.