All Forum Posts by: Joan Liut
Joan Liut has started 1 posts and replied 3 times.
Post: HELOC to finance a house when lenders don't want to lend to llc?
Joan LiutPosted
- Edgewater, MD
- Posts 3
- Votes 0
Thanks Scott,
The lender seemed agreeable with the solution. My inclination is still to just buy the property outright without the LLC and get umbrella insurance, but if my husband really wants an LLC, this is a good way to move forward.
Post: HELOC to finance a house when lenders don't want to lend to llc?
Joan LiutPosted
- Edgewater, MD
- Posts 3
- Votes 0
Hi Russ,
I just did ask the lender. I am unsure why they should oppose it; we have plenty of equity in our house and HELOCS are used for all sorts of reasons. The responsibility for paying the loan would be on us personally, wouldn't it?
Post: HELOC to finance a house when lenders don't want to lend to llc?
Joan LiutPosted
- Edgewater, MD
- Posts 3
- Votes 0
We would like to own our properties in an LLC, but getting financing is difficult. We have plenty of home equity; has anyone ever just used a HELOC to buy a rental? Can you just give your LLC the borrowed money and work that way?
I am a new member and a new investor.
Joan