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Updated almost 8 years ago on . Most recent reply
Lender that refinances LLC owned property - know any?
Having a little trouble finding a lender/bank that's ok with refinancing a mortgage of LLC owned property. Have any of you found such an institution you can recommend? I'm looking at refinancing a couple in 6-12 months.
Most Popular Reply
@Raj I. The issues I'm facing in refi under an LLC is that I can't find a bank that will do it yet. Haven't been searching that long so it's not a big deal for me yet. They state reasons of liability for not allowing their institutions to do those. Apparently something about the mortgage crisis few years back has the banks scared on this topic as well.
Yes I do have rentals in LLC's but for now I don't see too much benefit in doing that. I have my own personal reasons for doing so, but from a purely business standpoint, I don't think it makes that much of a difference. For asset protection, buy insurance no matter what.