General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 7 years ago,
Mortgage terms and turning a property into an lax
Hello fellow bigger pockets members, I am looking to turn my three unit property (NJ) into a LLC. I have a copy of my mortgage to check to see if this is possible without having to pay the entire debt off however it seems my mortgage was sold to a new lender.
What are the next steps? Calling the new lender?
Do you typically have a lawyer review the mortgage terms?
Any other steps or due diligence I am missing?
Many thanks! -Andrew