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Updated almost 8 years ago on . Most recent reply

User Stats

122
Posts
33
Votes
Fahima Hilal
  • Real Estate Agent
  • rutherford, NJ
33
Votes |
122
Posts

Transferring properties to LLCs

Fahima Hilal
  • Real Estate Agent
  • rutherford, NJ
Posted

I am going in circles with regards to moving a property into an LLC. I have the LLC set up. When I wanted to transfer the deed to the LLC , I am told the bank wouldnt take it lightly and call the loan due. My mortgage broker tells me its not possible for an llc to get a loan or at least very very difficult. Can someone shed some light and practical info on this please ? I'm having a sick stomach just thinking of all possible worst case scenarios of not having the property under an LLC!

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