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Updated almost 6 years ago,

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?

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