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Updated 9 months ago,

User Stats

28
Posts
8
Votes
Tamera Muniz
8
Votes |
28
Posts

Mortgage company denied request to transfer property to LLC

Tamera Muniz
Posted

So my husband and I bought our first investment property in November and Chase is our servicer. We opened an LLC to transfer the deed and have been working to get a consent to transfer from Chase. I just got a response from them stating that our request was denied because we will not be living in the property for at least a year. I've tried contacting Chase multiple times for an explanation because that just makes no sense to me considering we bought it as an investment property and our intentions were never for it to be our primary residence. Apparently Chase only allows transfer to LLC's if it's your primary residence? I'm confused, can anyone provide some insight? Do I have any other options?

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