Mortgage Brokers & Lenders
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago,
Looking for Refinance of personal Home, must understand SOLO 401K
I am having a big problem. Since Dec I have been trying to refinance my personal home. I have now tried 3 mortgage companies and have gone through the whole process only to find out at closing that I cannot sign the paper work because none of the companies/underwriters understand or know what a Solo 401K is and therefore they keep adding one of my Solo 401K Trust plan properties as an asset/liability to me personally. The property is correctly deeded and listed as a property owned by my Solo 401K plan, even the clerks at the county agree. But because the underwriter doesn't understand that, they say that that property HAS to be in the mortgage loan paperwork. So I can't sign and refinance my home because of that and that is costing me money.
What can I do? Anyone know of a good mortgage company that does personal homes and understands what a Solo 401K plan is?
Thanks
Mark