But, at least the execs and boards, and, yes, shareholders, don't escape with a bonanza while taxpayers are left holding the bag.

June 24, 2008 12:39 PM ETBANGALORE (Reuters) - Countrywide Financial Corp shareholders vote on Wednesday to approve the largest U.S. mortgage lender's purchase by Bank of America Corp, marking the demise of the company perhaps most closely associated with the nation's housing bubble and subsequent collapse.The vote will be held at Countrywide headquarters in Calabasas, California.

One of the states that do not disclose shareholders in LLC is Wyoming .so, some consultants recommend to have LLC where you invest and have an Wyoming  LLC as 100% shareholder of the holding entity. 

If you are using conventional financing there are some lenders that will allow you to purchase in the name of the LLC if you and anyone else applying (like a spouse) are the only shareholders. 

sam's info is not entirely accurate.many lenders will require all managing members of an LLC to be personal guarantors. the last bank i worked for required any member that held 20% or more of the company. my current employer requires ALL shareholders (even if you own only 1%).personal credit will certainly play a factor.good luck!

Any advice word be greatly appreciated yes there is. sometimes its worthwhile to talk to the bank after the auction and explain that they are wasting shareholders money to purchase a property back for e.g. 120K when its worth 30K and needs XK in rehab costs. the plaintiffs (bank) attorney  needs to know you. it works if you are in the business for some time and they know you are serious.  

States vary greatly on the rights of minority shareholders.

And do it in as much detail as possible: I've been party to LLC's that spend 2-3 pages JUST on circumstances under which a shareholder can surrender their shares and receive full value.A quick Google search for terms like "minority shareholder discount" and the like will bring up a wealth of information.

The difficulties arise when some of the underlying shareholders, partners or members of the multi-member entity wish to go separate ways and attempt to exchange their interests in that entity as part of a tax-deferred like-kind exchange.

Lots of courts are looking at single member LLCs as little more than expensive and complex DBA registrations.A corporation, even one wholly owned by a single shareholder is harder to pierce.