Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Goals, Business Plans & Entities
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 6 years ago on . Most recent reply

User Stats

45
Posts
6
Votes
Stephen Neto
  • North Dartmouth, MA
6
Votes |
45
Posts

Property in Individual name trying to put in LLC

Stephen Neto
  • North Dartmouth, MA
Posted

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?

Loading replies...