My question involves a foreclosure in the State of: Florida
I currently have 4 Rental Properties in Florida that I can no longer afford to pay the bank mortgages on. They are currently paid up to date(Nov 2010) but i will no longer be able to pay on them. I also have 4 other investment properties with private non-recorded mortgages.
My question is how to protect my private mortgaged properties when I start the foreclosures on the bank properties. Do I put them in an LLC or LP? Will this prevent the banks from going after them?