I almost exclusively sell bank foreclosures for a large asset management company, and I also do a lot of marketing for wholesale deals.

As far as bank is concerned, I am still the borrower, because we did this transfer behind the bank's back. 

I was hoping to hear from the host who invested there and why but nothing yet.

Most banks won't want to come in with a line of credit that is second lien on the property.

At it's basic level:Assumption: Asking the bank to turn the loan over to you and going through the normal underwriting process, credit, income, DTI ratio etc SubTo: Taking over the loan without telling the bank, no underwriting, no credit check, no income verificationBoth have risks, but it's not my intent to be detailed in this post.

Traditional bank loans can be slow and have strict requirements, while hard money and private lending seem to offer more flexibility.For those who’ve secured funding before, what’s been your experience?

In addition, you want a separate bank account for the rental property to separate it from your personal accounts.

@Hank Bank where are you located?

I did all of my loans with small local banks in my area and was always happy with the rates and service.

My question is: How do I properly take the interest that my LLC has put into the new LLC and give it to my person for the purposes of getting a loan from the bank through a refinance.