30 Year Loan and then Quitclaim Deed
I have heard a few people make mention of buying a home by securing a 30 yr. conventional mortgage in their name and then quitclaiming the deed to their LLC or other entity. Has anyone actually done this and can speak from experience? I understand the benefits in terms of securing a 30 yr. mortgage and having a more cashflow friendly debt service. My questions are about the potential pitfalls or issues.
Thanks,
Scott