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Updated over 9 years ago,
Triggering due on sale clause
So I'm wondering who here has any direct experience or knowledge of triggering the due on sale clause in a loan from transferring to an LLC? Have been reading about people who heard about this happening, but never heard from anyone who has actually done it recently either with or without consequence from their lender.
I'm debating whether to attempt it, since all of my experience with it was from more than 5 years ago when it could be done with little fanfare from lenders. Now that the climate has changed, it seems that the rumors floating around are that you will get called by your lender if you transfer out of your personal name to an LLC even if you continue to pay on time as in the past.
Anyone??