Updated about 9 years ago on . Most recent reply
Personal to Corporate Credit Transfer
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Hello everyone. I am not sure how in depth this has been discussed but I have a problem I am trying to navigate through.
I have several rentals that I have had a few years. I could not say that I was a professional investor, however, I am now trying to take the next step. I incorporated in January but in setup only. Meaning I did not change the properties into the Corporate name or mortgages. I have been in contact with a couple of banks that have given me the way forward to establish a relationship (credit) with them under the business name.
My problem is after doing a "QuitClaim Deed", how would I go about changing the mortgages into the business name without refinancing and paying closing costs on each over again. The interest rates are fine so there really is no need for a refi. Is this even possible or do I just have to start from here with new properties under the corporate name? Any advice would be great.