Canadian banks with US counterpart lending
we are looking in to buying a property in FL. After a ton of research and speaking with a great cross-boarder lawyer we have been advised to set up a LimIted partnership to purchase the property to give us the best liability protection as well as tax protections. Problem is the banks (who already pre-qualified us) don’t want to lend now. Has anyone done this before? Have any suggestions? I don’t get if we are personally guaranteed the mortgage and it is a lImited partnership why they won’t lend u see that umbrella. Is it just that the mortgage broker doesn’t understand the LP structure?
Any help would be great