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Updated about 5 years ago on . Most recent reply

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18
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5
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Janeen Bertolina
  • Real Estate Agent
  • Portage, MI
5
Votes |
18
Posts

How would lender find out if property moved to LLC?

Janeen Bertolina
  • Real Estate Agent
  • Portage, MI
Posted
My mortgaged properties are not in an LLC because I've read that moving them into an LLC could trigger the due on sale clause. So my question is, how would the mortgage company ever find out? Should I only put paid off properties into an LLC? Or all of them, regardless of whether they are mortgaged or not? Thanks for any advice!

Most Popular Reply

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15
Posts
2
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Gurpy Ont
  • Investor
  • Brampton, ON
2
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15
Posts
Gurpy Ont
  • Investor
  • Brampton, ON
Replied

Podcast 196 raises an interesting viewpoint on this issue. Bank can proactively check and screw you, when interest rates rise and they want to redeploy the capital. This would be the low hanging fruit.

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