Should I protect my second property (in CA) using a trust when short sale-ing my principal residence

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This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 4 months ago.

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    Anonymous

    It was suggested to me it might well be in my best interests to put my second property – which is successfully rented out in L.A. – into a trust (or something similar) before going through with a short sale of my home in Michigan, which is already in pre-foreclosure status.
    Is this necessary, and, if so, what kind of trust should it be put into? And the benefits?
    I am tight for funds right now, so anything too expensive to establish may be a challenge. Your input much appreciated.

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