Upside_down
New Member
I've heard that forming an LLC Corporation can help protect real estate from deficiency judgements. I own a rental property where the tenant has recently moved out -and the realtor has told me that I'm upside down approximately $30k due to declining real estate values. I reside in Colorado, and haven't yet spoken with the mortgage co. regarding a short sale. I also own three other homes free and clear. Would titling these other homes in a llc corporation protect them from a deficiency judgement if the lender doesn't agree to a short sale?
