Refinancing a property in an irrevocable trust
So, a client of mine bought a property with a conventional mortgage and Deeded the property into an irrevocable trust Now, after a number of years the lender caught on and is calling the loan. They did offer to allow him to transfer the deed back into his name and keep the loan, however due to his circumstances that is not possible. I understand that most lenders will not loan on a property in an irrevocable trust, and I am looking for help in finding one.
Does anyone have any ideas or suggestions to help him avoid the inevitable foreclosure if he doesn't payoff the loan?