How Do I Switch My Personal Properties To My LLC?

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I have all my properities deeded in a trust that is owned by my LLC, but I am trying to move them off of my personal credit into my LLC. There has to be a way I can do this. I am thinking if I refi all the properties in the LLC's name. I know that someone maybe still has to gaurantee with a signature. I need the missing piece to this puzzle I have been trying to figure out for awhile. Need help very soon. grin

Comments(1)

  • dnvrkid2nd January, 2005

    Your thought process is correct, if you personally signed for the loans on these properties and they are showing on your credit, the only way to get them off your credit is to refinance them. Though they will still show up, just as paid off.

    Guaranteing a loan will vary by the lender on whether they report it on your credit or not. Some do, some don't.

    Does your LLC have the financial status enough to support this on its own? You may still have to guarantee it, but you should be able to find out from your mortgage broker if they report it on your personal credit or not.

    Try to go with a private lender who doesn't report, you if you can do it over a period of a few montha you may be able to move a single property over to the LLC establish a payment history and then have the others moved over after 12 months of payments. It will help if you can show that the LLC is currently making the payments on the LLC (and has a good payment history) and that the LTV of the properties are low (lower the better).

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