Banker wants to modify my loan because I moved it to an LLC!

[George Gao]

Hi BP, I would like to move my rental properties into my LLC. So I gave my local banker a call as a courtesy heads-up. Unlike other banks I dealt with before, he said I would need to get my loan modified, which would take $500-$600 in attorney fees. Has anyone heard of this before? Any recommendations for local Texas banks that doesn't have a problem with moving properties into LLC's name after financing in personal name? Thanks.