Title in HML's name

[Tracey Williams]

A local HML discuss his lending program at an REO meeting recently and am just wondering if this sounds normal.
When you have a deal:
The purchase and title will be in his company's name at closing and he will then sell to you on a land contract for 12months. 10% ~15% interest only with 10- 20% down payment.

My question is , will I be able to refiance this house with a bank after 12 months since the title is in the name of the HML and my intention is to keep it as a rental unit.
Thanks for sharing your thought
Tracey.

[Jon Holdman]

Its not a loan at all. This "HML" is buying the house and selling it to you. No, you won't be able to refi because you don't own the house. You will have to do a purchase loan.

REO meeting? Do you mean a REIA meeting? These sort of speakers are allowed to come speak because the people running the meeting get paid by them.