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Updated about 1 year ago,
Loan servicing company
I’m going to be purchasing a property from a trust. I’m the manager of the trust and there are several beneficiaries in the trust.
The trust owns the property outright. I will be putting down roughly 75% of my personal funds and the trust will privately finance the remaining 25%.
My question is are there any companies out there we can pay to service the loan? I want it to be totally neutral 3rd party to collect the money, pass it on to the trust, make sure the loan is paid back as appropriate, issue monthly and year end tax documents etc
That way everyone in the trust is on the same page and give everyone full transparency.
Any companies/banks out there that do this?