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Updated over 6 years ago on . Most recent reply

Ayen Lee's profile image
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Ayen Lee
  • from Los Angeles, CA
  • Member since Oct 16, 2018
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Ayen Lee's profile image
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Ayen Lee
  • from Los Angeles, CA
  • Member since Oct 16, 2018
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Ayen Lee
  • Los Angeles, CA
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General Landlording & Rental Properties

Rental property under LLC,do I have to inform the Mortgage Comp?

Ayen Lee
  • Los Angeles, CA
Posted

Hi there!

I have a rental property in Las Vegas that is under LLC (newly formed LLC), Am I obligated to inform the Mortgage company about this? Thanks!

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Chris Mason
  • Lender
  • California
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Chris Mason
  • Lender
  • California
ModeratorReplied
Originally posted by @Ayen Lee:
Originally posted by @Irina Belkofer:

They won't enforce "due on sale" if your LLC is single member company and you're the only owner.

Ask @Chris Mason - he explained it few weeks ago

The LLC was a partnership between my Husband and I, am I in big trouble now?

 Not necessarily - linky link. 

  • Chris Mason
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