Dec

18

Deeding your investment property in an LLC or other entity is terrific for asset protection and certain tax advantages but it really sucks for refinances.

I’m working on an unseasoned refinance for a client right now and I just got a call from the lender saying that they won’t even underwrite it until it is quit claimed into the personal name and recorded. Usually they make this a pre-funding condition so that we can at least get the loan underwritten while the quit claim is in process, but no more!So, if you’re going to refinance that property make sure you get started on the quit claim fast!

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