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Updated about 7 years ago,

User Stats

5
Posts
1
Votes
Andrew McGregor
  • Sparta, NJ
1
Votes |
5
Posts

Mortgage terms and turning a property into an lax

Andrew McGregor
  • Sparta, NJ
Posted

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

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