Updated over 5 years ago on . Most recent reply
Transfering Mortgage to LLC
Guys,
I own two rental properties and I have a mortgage on both of them with the same lender. I wanted to Quit Claim the property into my LLC but I ran into a roadblock. When I contacted my mortgage servicer they told me if I transferred ownership to my LLC it would trigger the "Due on Sale Clause" and would call the loan to be paid in full. Does anyone have any advice on how I can get past this?
James