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Updated over 11 years ago,
Is there a list of banks that allow transfer into LLC without due on sale clause?
The "Due on Sale" clause clearly has been beaten to death. Only time will tell how this plays out (the historical period of declining interest rates is not a good period to test this clause.. one must see what happens when banks see rising rates and loans financed at 4% trade at 40 cents on the dollar in a 15% interest rate environment).
I have read that some banks DO approve these transfers. Sometimes without a fee, sometimes for a fee.
Does anyone have a list of banks that DO approve these transfers?
Thanks