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Updated almost 7 years ago,

Steve Christensen's profile image
Steve Christensen's profile image
Steve Christensen
  • Wholesaler
  • from Saint Ann, Missouri
  • Member since Sep 15, 2014
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User Stats

50
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27
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Steve Christensen's profile image
Steve Christensen's profile image
Steve Christensen
  • Wholesaler
  • from Saint Ann, Missouri
  • Member since Sep 15, 2014
Connect
Steve Christensen
  • Wholesaler
  • Saint Ann, MO
27
Votes |
50
Posts
Goals, Business Plans & Entities

Transferring Property to LLC

Steve Christensen
  • Wholesaler
  • Saint Ann, MO
Posted

I have a friend with a few properties who bought in his name with an umbrella policy. Now wants to transfer to an LLC. Mortgages are with Chase and US Bank, and they are giving him the run around. Is there a way to do this without initiating the Due On Sale clause?

One bank said he'd have to put in a commercial loan. He does not want to have to refinance either.
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