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How can you transfer an existing mortgage out of your own name and into the name of an LLC?
Wiki User
∙ 9y ago
You cannot transfer a mortgage since the mortgage is owned by the bank. The bank is unlikely to remove the obligation from you to an LLC. You would need to pay off the existing mortgage, transfer the property to the LLC, and then refinance under the LLC . . . if the bank will allow the transfer of title and new mortgage.
Wiki User
∙ 9y ago
Wiki User
∙ 9y agoMust contact the lender to see if it allows such.
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What are some mortgage companies in Connecticut?
There are several mortgage companies available in Connecticut. Some examples of these include, but are not limited to: Capstone Mortgage Co, Generation Mortgage LLC, Noreast Mortgage Services LLC, Reverse Mortgage USA, andTotal Mortgage Services LLC.
What is Eloan Refinance all about?
E-Loan refinance is part of the E-Loan service that deals with finding a new mortgage deal for an existing purchase. E-Loan is an online mortgage and loan broker owned by Lending Tree LLC.
Who is the CEO of Nationstar Mortgage?
the President and CEO of Nationstar Mortgage LLC is Mr. Jay Bray
Would it be better to use a Quit Claim or Warranty Deed to transfer a property to an LLC and would my bank have a problem with it?
If there is a mortgage on the property there is most likely a clause that will trigger a demand for payment in full if the property is transferred. You should check your mortgage document.
Is Nationstar Mortgage associated with Flagstar Mortgage?
Flagstar Bank sells it's troubled loans to NationStar LLC
What mortgage companies are there for people with bad credit?
There are quite a few mortgage companies for bad credit. To name a few, one could try Countrywide Home Loans Inc, First Magnus Financial Corp, Gmac Mortgage LLC and Primary Residential Mortgage Inc.
Can an llc member have their home in the llc?
Yes. Actually, not only are you allowed to have your home be your LLC address, but you can write off a portion of the rent/mortgage in the area that you use for all LLC business activities.How to figure how much to write off?Lets say your home is 1,000 square feet. If you use 250 SF as your office in your home you can write off 25% your rent/mortgage.
Does GMAC Mortgage LLC exist?
The company that used to be known as GMAC is now Ally Financial.Ally put the GMAC ResCap subsidiary (the one that included GMAC Mortgage) into bankruptcy in 2012, because of substantial losses; they wanted to get out of the mortgage business and focus on their highly profitable automotive financing business (General Motors Acceptance Company is where GMAC got its name from originally).This doesn't mean that a GMAC Mortgage LLC doesn't exist, but I'd be wary of dealing with them: if it's "really" GMAC, then they're in financial difficulty; if not, they're deliberately using a misleading name.
Can an LLC buy a HAFA short sale?
Yes. The LLC will need to provide its Certificate of Formation and Operating Agreement to the mortgage servicer reviewing the short sale.
Is American Lending Solutions LLC a legitimate mortgage Lender?
They appear registered as a mortgage lender, but they are not well-reviewed. Look up the BBB rating.
When did BA Mortgage LLC and Bank of America merge?
According to a Certificate of Merger issued by Delaware and filed with the Maryland State Department of Assessments and Taxation, the merger of BA Mortgage, LLC into Bank of America, National Association, was filed April 15, 2003.
What are the names of some residential mortgage companies?
There are plenty of residential mortgage companies throughout the world. To list a few, Quicken Loans, Third Federal Home Loans, Residential Mortgage LLC, Chase Mortgage and the list goes on.
