Has anyone ever moved their property to a land trust? I was reading that this is good for asset protection. The article then explained that if you wrote to the lender and asked to have the mortgage report to an different EIN ( like that of an LLC that you own), that you can send the newly recorded deed to the CB and ask for the mortgage to stop reporting. You are still liable for the mortgage, but it is not reporting against your SSN and thus just not showing on your CR for the world to see. Any thoughts on this process??
Isn't a deed a public record,which you can't hide.plus with the software available now they'll find it.also money talks so a little cash in the pocket will get you quite a bit of info.
Why would you want the mortgage off your credit report, unless you're not paying? A mortgage is a positive to FICO.
If the deed if filed in the name of the trust, there is no public record with the owner's name on it. This is used for asset protection. This would be used for investors who have multiple mortgages. I own several properties yet my name cannot be found anywhere on public records.
