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Updated 7 months ago,
Lender won't let me move the property to my LLC
Hi!
I just bought my 1st investment property, a brand new home with DR Horton, and used DHI (DR horton lender) for the mortgage, they told me they were going to sell the mortgage and I should wait for that before moving it to the LLC. Now PennyMac, is saying that they won't let me do the change.
I have concerns about tax benefits and liability. I rented to house within 3 weeks and they are paying to the LLC bank account and I am paying the mortgage with the LLC account.
Has anybody dealt with this? Any ideas on how to make this work without having to pay off the mortgage? I'm also looking for a tax lawyer and accountant who can help me with my taxes and this situation.
Thanks