Bank said if I do LLC they can call the note due?

[Jerry Akop]

Is it true if I do an LLC that the bank could call on the note to? I called one of the bank of my mortgages and said I can't do it. Please help. 

[Christopher Phillips]

@Jerry Akop

Fannie Mae and HUD don't lend to corporations, so they won't lend to your LLC. If you buy a property in your name and try to transfer it later to your LLC, you run the risk that the note will be called because it's considered a sale and most loans will come with a due on sale clause.