Land Trust + REO Does NOT=Avoid Seasoning!

ALL: I got this via PM thught I'd share it with you Guys and Gals... I hope it Helps! Derrick Quote:

On 2003-11-10 23:13, quinn wrote: Hi DerrickAli,
I've been told that you are the authority on land trusts and I may need your help.

I'm closing on a REO at the end of the month, my broker told me that because of seasoning issues that I can't turn around and sell it immediately. I posed this problem to the board and got a response about putting the house in a land trust. Then I was told to ask you.

Ok, my question is this:
1. Will putting the house in a land trust right after closing allow me to be able to sell it quicker?
2. If so, how?
3. If it is a solution, could you please walk me through it?

Thank you for taking the time to read my questions and possibly help me out.

Quinn

And MY REPLY: Quinn: Nice to meet you buyt SORRY >:( A Land trust won't CURE nor help you to avoid seasoning issues b/c yourproperty is an REO and this is the REAL BIG issue.... If you were buying from the PFL owner before or after the auction (if your State has a redemption period) then the Land Trust could solve your problem but not so after the bank has it. Your SECOND ISSUE is that... YOU NEED to LOCATE a capable mortgage Broker with NO-SEASONING LENDERS Whom Can Assist you in srelling to Prospective Buyers! There are plenty of them rght here on TCI who can point you in the right direction! I hope this Helps! Derrick :coolgrin: