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Updated over 5 years ago on . Most recent reply

James Hughes's profile image
James Hughes's profile image
James Hughes
  • Rental Property Investor
  • from Nashville, TN
  • Member since Dec 17, 2017
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User Stats

16
Posts
3
Votes
James Hughes's profile image
James Hughes's profile image
James Hughes
  • Rental Property Investor
  • from Nashville, TN
  • Member since Dec 17, 2017
Connect
James Hughes
  • Rental Property Investor
  • Nashville, TN
3
Votes |
16
Posts
New Member Introductions

Transfering Mortgage to LLC

James Hughes
  • Rental Property Investor
  • Nashville, TN
Posted

Guys,

I own two rental properties and I have a mortgage on both of them with the same lender. I wanted to Quit Claim the property into my LLC but I ran into a roadblock. When I contacted my mortgage servicer they told me if I transferred ownership to my LLC it would trigger the "Due on Sale Clause" and would call the loan to be paid in full. Does anyone have any advice on how I can get past this?

James

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