I have heard many people talk about moving assets to an LLC after getting financing; although this could trigger a due on sales provision, it sounds like it rarely does. It sounds like people don't tell the lender about this change. Question: Is it an issue if the lender is filing year end tax statements (like interest paid, etc) against your personal social security number but you are filing the tax return for an LLC? In case of a single owner, the LLC would likely be a disregarded entity but it still seems like you would end up with a mismatch compared to the IRS records.
@Matthew Frazier, disregarded is disregarded. With a single member LLC the LLC doesn't file any tax documents. So, its all on your personal taxes. So, nothing to be mismatched. Its all baked in. The IRS doesn't care which is which.
Also, there are portfolio loans where the property is titled by the LLC and you take the debt out in your personal name. So, it isn't weird or unusual to have these things not match. Also, tax documentation doesn't include the title to the house. So, again nothing to be mismatched.
Thanks @Kevin Sobilo. I guess as long as the LLC TIN is included on the appropriate pages of the return to tie things together, then that makes sense. Much appreciated. :)