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Updated over 4 years ago,
Due on Sale - Remedies if Bank gives 30 days notice
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?