Options when lender won't allow deed to LLC
A few months ago I purchased a building with 4 townhouses in it in Texas. I created an LLC. I asked to use the LLC name for the title, but they told me to do it after closing. The loan was sold to another company. I contacted them, and they told me explicitly that they would enforce the "due on sale" clause if I did a deed to put the title in the company's name.
What are my options for protecting myself?
Most Popular Reply
@TimothyGerdes We are facing the same issues. What we've done is shopped around and found a lender who would refinance into our LLC. This both allows asset protection, and allow us to pull out equity.