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Updated almost 5 years ago,
Transfer property with HELOC into an LLC?
I have a SFH currently paid off. I am in the process of getting a HELOC on in. Will I be able to transfer the property into an LLC with an open HELOC? Or will banks not allow this? Will the bank even know if I transfer the property after I obtain the HELOC? I'm not really sure what transferring to an LLC entails in terms of the HELOC.
Thanks in advance for any replies!