Posted by Rich-CA on December 01, 2007 at 18:51:57:
What I have done in the past is Q/C the property to my name, refi, then Q/C back. The lender (Citi) allowed me to include my Q/C in the closing package so we could handle all the documents in one closing package.
Refinacing Property held by LLC - Posted by Akeme
Posted by Akeme on December 01, 2007 at 08:02:04:
Have a 50% stake in an LLC which was used to purchase a rental for cash. Approached the Bank to refinace the property.
Bank says I would need to take the loan in my personal name. Whats a good way to handle this.
If I quit claim it into my name are there any tax issues.
Also how best do I get the deed back into the LLC name after refinancing
Re: Refinacing Property held by LLC - Posted by Akeme
Posted by Akeme on December 02, 2007 at 07:26:31:
Was your llc a single entity llc or did you have other members.