Removing your personal credit from a loan after 6 months...?
Hey all,
I was told that if a person were to buy a property with their personal credit and within 6 months of owning that property they "sell" the property to their own LLC; at that point that individual can then write a letter to the credit bureau that the property has now been transferred to an LLC and is no longer tied to their SSN and personal credit. After said letter is received from the credit bureau then the loan would then be removed from the individuals personal credit and be transferred to the LLC credit.
Is the scenario above a true scenario? has anyone accomplished this before if so how does the process work?
Thanks,