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Updated almost 7 years ago,
Quit Claim from SCorp to Personal. can I refinance and pull out $
I bought a rental property about a year-and-a-half ago. I put it in my S Corp name which was a mistake and I knew it at the time but I did it anyway. I just quit claim deeded the property to myself personally last week and I am looking to refinance that property and pull out about 80,000 cash. The property is worth about $210,000 and I owe about $80,000 on it. Are there any lending institutions that will take my business without having six months seasoning even if the S Corp was a single member and I was the single member? Thanks!