I created the LLC and have transferred the title to the LLC.

The bank won't transfer the mortgage unless they know you are fully qualified to handle it.

I cannot transfer to a self directed 401k as I am a special class that does not pay a penalty on my withdrawal even though I am only 51. 

The reason states because it is being transferred, but I thought it was the other way around (being transferred because it is not renewed).  

Did that for about 4-5 months and sold 3 houses before I went home for summer break and decided to transfer schools.

The contract did allow us to transfer the house and contract to if we decided.

Unless there is significant equity in the property 50% LTV may not be enough to payoff the current underlying mortgage.Now here are the exceptions to lift the COB 50% limited LTV restriction:- you inherit the property and it was transferred into your name either via legal award from a domestic partnership/marriage - you have been on title for 24 + months- you took title to the property that was transferred from a partnership or partnership like entity (LLC, LP, etc) that you can document the ownership of 25% or more in- you lived in the property and have been on title for atleast 12 months as a primary residence- you have paid the mortgage for atleast 12 months - or you can demonstrate a relationship with the obligator (domestic partner, relative, family member, etc. )If you qualify for one of the exceptions you are not limited to the 50% max LTV  when considering fannie/freddie conventional cash out refinances on a subject to transaction.

However, unfortunately rental income does not cover all of the mortgage on this property, so I will also have to transfer money in from my personal account to the new checking account.I hope that explanation made enough sense to follow.

I know that market very well but it would be easier to help you if you have more precise questions and also if we know what your objectives are.

They are asking for a transfer fee at closing.