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Using the Title Holding (Land) Trust to Rescue Jumbo Sellers

A coaching client of mine, Brian Gibbons, turned me onto an article in USA Today that I hadn’t seen when it first came out:

Upscale Home Sales Lag as Jumbo Loans are Hard to Get

The Title Holding (Land) Trust is really saving these desperate sellers (and buyers!)  Recently we put together a deal that:

  1. preserved $400,000 of the seller’s equity (equity that didn’t really exist at that point in the market)
  2. allowed the seller to defer capital gains on his primary residence
  3. allowed the seller to get out from under payments that had become oppressive.  (He was paying $7,000 per month when he had already bought another $2.3mil property to live in . . . he was carrying 2 jumbo mortgage payments!  Ouch!
  4. allows the investor/buyer to get the benefit of the existing property tax basis, which is much less than if she were closing on the property conventionally

When banks say NO, I say YES!

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