Re: land trust during equity buyout
Posted by Julio Martinez-Clark on March 04, 2008 at 15:26:01:
In Reply to: Re: land trust during equity buyout
Posted by Mitch in TX on March 04, 2008 at 14:53:43:
Mitch in TX,
I have not said that some states have banned Land Trusts; what I said was,
"Be aware that some states have banned the Land Trust strategy that you are proposing and some other states are in plans to do so."
The National Consumer Law Center recently published a report called “Dreams Foreclosed: The Rampant Theft of Americans' Homes Through Equity-Stripping Foreclosure 'Rescue' Scams," June 2005, PDF (4.7MB). I recommend you read it in its entirety; Part 2 specifically addresses what states are taking action on the Land Trust/Subject-To strategy and other ones. It will answer your question.
I hope this helps clarify your questions.
Julio Martinez-Clark
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