LLC to pay personal mortgage?

[Wes Morgan]

I have a rental that I purchased with a conventional mortgage. I have since deeded the house to an LLC (with the banks permission). Does it make sense to have the LLC pay the personal mortgage directly from its account?? Or s

[Wes Morgan]

Daniel,

Yes, I called the bank and asked their permission before I quit claim deeded the property. I actually got them to send me a letter saying it was okay with them if I quit claim deeded the house to my LLC. They said as long as the LLC was owned by myself and my wife only, then they didn't care what I did.

I still have the house and the mortgage and have been making all regular payments from the LLC.

Sorry for my long delay... I haven't been on BP in a while. Too busy!

-Wes

Jeff, thanks for you reply way back when!

I researched a lot on buying houses 'subject to', which I almost did but the deal fell through, but the consensus seems to be that the bank doesn't care who or what pays the mortgage, as long as it gets paid. The last thing they want to do is foreclose on a property.