Other companies are more flexible and will let you make loans, buy a house or invest in securities that aren't publicly traded.

Asset protection is the standard answer.

Actually, my friend does have his RE license so I believe that I am covered but thanks for keeping myself and others protected, John!

It could cost you all of your interest deduction, which may be tens of thousands of dollars.Another thought that just came up is the asset protection side of the coin in doing this.

I noticed that there is a public notice about how the lender is foreclosing.

Yet they act like it is a private club of just friends and family.To be more to the point...Some are in a service role providing something to the public (RE agent, book seller, mortgage broker, home inspector, REO portfolio bird dog, what ever).

However, I thought that myself, and the property for that matter, would be better protected if I take it in my own name.

All the details are public so you should be able to find out what you want given what you asked.John Corey

Like James and the others have said, be more patient and protect that money of yours.

The difference being liability protection vs. none in terms of the LLC.It makes little sense to use a different LLC each time.