I recently had this scenario. A client of mine wanted to do a non owner cash out for his property that was held in an LLC. So one of the internet lenders promised the world that this
Non Owner Cash Out~Property Held in LLC
Dated: January 10 2022
I recently had this scenario. A client of mine wanted to do a non owner cash out for his property that was held in an LLC. So one of the internet lenders promised the world that this would be no problem in his scenario. Once at the signing table the verbal agreement was he would be able to immediatly return the property back into his LLC . Title, who was picked by the lender would not prepare the deed back to the LLC. They were claiming it will trigger the due on sale clause. There are some guidelines and exemptions with Fannie Mae and Freddie Mac that allow for this type of transaction. If your interested in doing a cash out Refinance I can refer you to a bank that can do it.
Matt Irvin received his BS from Oregon State University and his Master’s Degree from the University of Nevada, Las Vegas. He is a Licensed Real Estate Broker. Matt’s memberships include the Califo....
Latest Blog Posts
Are you clamoring for extra rooms or a more functional floorplan in your house? Maybe it’s time to make a move. If you’ll be able to work remotely for the long-term or your overall needs
Many homeowners who plan to sell in 2022 may think the wise thing to do is to wait for the spring buying market since historically about 40 percent of home sales occur between April and