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Updated about 4 years ago on . Most recent reply

Quit claim deed: what happens when you need another mortgage?
Hi everyone! I have 6 properties (5 sfh and 1 duplex) that we purchased in our personal names in order to get better rates, etc. I recently formed two new LLCs to quit claim deed these properties into, but then had a thought: What happens if I'm looking to get an additional mortgage for a new property and now the banks look at all these mortgages and see that they have been moved into LLCs? Has anyone run into this? Any suggestions and guidance would be greatly appreciated!
Thanks, Deena