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Updated over 4 years ago,

User Stats

107
Posts
15
Votes
Ryan Bird
15
Votes |
107
Posts

Due on Sale - Remedies if Bank gives 30 days notice

Ryan Bird
Posted

From previous posts I read that due on sale is very rare but real. Now that I have quit claimed the deed to an llc , which is 100% owned by me, what are the remedies/proactive steps I could take now if the bank calls the loan next month (ie. when my insurance changes and bank gets notified if not already via deed transfer) ?

-> Deed it back to my name?

-> Transfer to commercial loan within same bank

-> Get a commercial loan from another bank in 30 days and close the original loan? (Is this possible in 30 days and if so, should I start pre-approval or something now?)

-> Anything else?

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