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Updated about 4 years ago,
Switch Title to LLC, but keep paying mortgage from my account
Hello everyone, I recently bought my first investment property (Indianapolis). Currently the property is in my name and I pay the mortgage/expenses with a separate checking account also in my name. I have seen many advise asking your lender if they will call your loan by switching the title to an LLC name so I asked my lender.
He said the company would call my loan due on sale BUT that they would never know the title was transferred as long as i keep paying the mortgage every month and from an account with my name on it (instead of paid by XYZ LLC).
Does this sound right? I can get the title transferred into my LLCs name and just keep paying it from the same account every month? For future houses is it easier to do it this way? or buy with the LLC from the get go?
Thanks for all of your help