Wednesday, January 11, 2012

Can I do a Loan if my Properties Are in an LLC? Mortgage Broker Bill Rayman Answers

Very simple question, very simple direct answer, can I do a loan if my properties in an LLC?  And the answer is no.  Even though by law and taxes, an LLC is considered a individual, from a lending stand point it is not.  The lenders want individually real flesh and blood individual to be responsible for the loan and the payments.  So you’re gonna sign for that individually.  Can you put it into an LLC afterward?  Absolutely.  You do that with your accountant, your attorney, it’s a relatively easy process.  But it’s not the LLC signing that document.  You can only do that for commercial properties.  

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