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Posted on 3/14/17 at 10:16 pm to PatrickBeetmen
I just bought my first rental and am in the process of doing this. You create the LLC and just go to a title company and get the title transferred from you to the LLC. mortgage will still be in your name.
If you have a loan on the house as I do you are not technically supposed to do this and if the lender finds out you could possibly be forced to pay the entire loan off. I am also told if the lender does find out they will likely just send you a mean letter and you can hurry back to the title office and transfer back to yourself.
This is what I know about that
If you have a loan on the house as I do you are not technically supposed to do this and if the lender finds out you could possibly be forced to pay the entire loan off. I am also told if the lender does find out they will likely just send you a mean letter and you can hurry back to the title office and transfer back to yourself.
This is what I know about that
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