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Updated about 6 years ago on . Most recent reply

Property in Individual name trying to put in LLC
I purchased a 3 family investment property in my name with a Freddie Mac (FHLMC) loan.
I asked the mortgage co if I am allowed to transfer the mortgage note into an LLC I want to create for the property and they said NO.
Apparently, "Freddie Mac (FHLMC) does not allow for a property to be transferred to an un-natural person", is what they said.
So I do not want get rid of this nice 30 year, low monthly payment FHLMC loan to put property in LLC.
Or should I? Is it more important to have a property in an LLC or have a cashflow friendly bank note?