What lenders lend on houses in an irrevocable trust?
HI Biggerpockets Team,
Happy Thanksgiving!
I have searched biggerpockets for info on getting a loan on a house in an irrevocable trust and found some info but needed to ask again.
Here is my story....my grandmother had a house that was in a living trust.
Upon her passing many years ago the trust became irrevocable.
I am the trustee and now this house is my primary residence and it needs repairs and updating which I would do a cash out refi.
During my initial due diligence I have found that the majority of the banks and credit unions say no to a loan but my trust attorney says they should be able to loan the money.
I wanted to see if any of the lenders out there in Biggerpockets will be able to loan on this house?
Any and all advice is appreciated.
Thank you......