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Debt Relief – Insolvency – Bankruptcy Information » Foreclosure Help » Will a land trust on your property prevent your house from foreclosure?

Will a land trust on your property prevent your house from foreclosure?

one of my friends is in pre-foreclosure soon and i was wondering if they convert their deed into a LAND TRUST it will save them from any liens or foreclosure. Can anyone please help? Greatly appreciated thanks.

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6 Responses to "Will a land trust on your property prevent your house from foreclosure?"

  1. RetiredDebtFree says:
    No. Not at all. The property is already collateral for the loan. They need to work out a payment with the lender (not likely), or sell the place if possible. Sometimes, keeping a property is like swimming with a bowling ball … letting it go might be the fresh start they need.
  2. Doc Bill says:
    The laws vary from community to community, but generally speaking, such a conversion will not void any liens or prevent foreclosure. Only a lawyer familiar with local regs can give you the answer you need for your particular situation.
  3. Caveat Emptor says:
    No. The lien is on the existing title and it cannot be “converted” anyway.
  4. Mr Placid says:
    Of course not. If that were the case, then everyone would be placing their properties into land trusts, and there would be no foreclosures.
  5. Landlord says:
    Wow. Some friends, they want to both steal the banks money and keep the house. Real up standing Americans there.

    No, this will not effect a foreclosure in any way.

    They are not entitled to keep both the money and the house. They have to give up one or the other.

  6. Lisa S says:
    Good answers…but you have to have free and clear title to do a land trust…and if the property is in foreclosure, than a mortgage is involved…hence… no chance.

    Good luck.

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