Need loan for Individual that permits title as LLC

[iforsyth]

I am an investor and I would like to find a mortgage where I can take
title as an LLC for asset protection, but personally guarantee the
note, e.g. the note will be in my name. I have not found any bank
that will allow me to do this after closing without telling me that
I'll activate the due on sale clause.

If there are ANY lenders out there that will allow me to individually
get a note based on my good credit (FICO is 760) and hold title to the
investment property as a newly formed LLC with my name on the note,
please respond to this thread. Providing your rates are reasonable,
e.g. on par with individual mortgage loans and not commercial loans, I
will give you 100% of my business. My attorney told me that there is
absolutely no additional risk to the lender if I personally guarantee
the note, which I'm willing to do. In fact, I challenge any lender to
come up with a reason as to why they're more at risk with an LLC
holding title and a note that's personally guaranteed by the approved
lendee.

Ian

[Bo195]

Post by iforsyth
I am an investor and I would like to find a mortgage where I can take
title as an LLC for asset protection, but personally guarantee the
note, e.g. the note will be in my name. I have not found any bank
that will allow me to do this after closing without telling me that
I'll activate the due on sale clause.
If there are ANY lenders out there that will allow me to individually
get a note based on my good credit (FICO is 760) and hold title to the
investment property as a newly formed LLC with my name on the note,
please respond to this thread. Providing your rates are reasonable,
e.g. on par with individual mortgage loans and not commercial loans, I
will give you 100% of my business. My attorney told me that there is
absolutely no additional risk to the lender if I personally guarantee
the note, which I'm willing to do. In fact, I challenge any lender to
come up with a reason as to why they're more at risk with an LLC
holding title and a note that's personally guaranteed by the approved
lendee.
Ian

Ian,

There are a few lenders who will permit holdings under a LLC. Lenders do
not have to provide any reason, 'valid or sensible' to lend you 'their'
money. It is their money and as such, their rules which must be followed.

There might be a few ways to effect what it is you seek to do.

SS

[iforsyth]

Post by Bo195

Post by iforsyth
I am an investor and I would like to find a mortgage where I can take
title as an LLC for asset protection, but personally guarantee the
note, e.g. the note will be in my name. I have not found any bank
that will allow me to do this after closing without telling me that
I'll activate the due on sale clause.
If there are ANY lenders out there that will allow me to individually
get a note based on my good credit (FICO is 760) and hold title to the
investment property as a newly formed LLC with my name on the note,
please respond to this thread. Providing your rates are reasonable,
e.g. on par with individual mortgage loans and not commercial loans, I
will give you 100% of my business. My attorney told me that there is
absolutely no additional risk to the lender if I personally guarantee
the note, which I'm willing to do. In fact, I challenge any lender to
come up with a reason as to why they're more at risk with an LLC
holding title and a note that's personally guaranteed by the approved
lendee.
Ian

Ian,
There are a few lenders who will permit holdings under a LLC. Lenders do
not have to provide any reason, 'valid or sensible' to lend you 'their'
money. It is their money and as such, their rules which must be followed.
There might be a few ways to effect what it is you seek to do.
SS

SS,

Thanks for the response. Who are these lenders? I'll get on the
phone to them tomorrow.

I understand it's their money, but it seems so inflexible. I'm not
forming an LLC to dodge my liability to the bank. I'm forming an LLC
to protect my assets, which I would think the bank would want, since
their loan is secured against the asset. But, you're right. When you
have the mulah, you make the rules.

Ian

[Samuel S]

Post by iforsyth

Post by Bo195

Post by iforsyth
I am an investor and I would like to find a mortgage where I can take
title as an LLC for asset protection, but personally guarantee the
note, e.g. the note will be in my name. I have not found any bank
that will allow me to do this after closing without telling me that
I'll activate the due on sale clause.
If there are ANY lenders out there that will allow me to individually
get a note based on my good credit (FICO is 760) and hold title to the
investment property as a newly formed LLC with my name on the note,
please respond to this thread. Providing your rates are reasonable,
e.g. on par with individual mortgage loans and not commercial loans, I
will give you 100% of my business. My attorney told me that there is
absolutely no additional risk to the lender if I personally guarantee
the note, which I'm willing to do. In fact, I challenge any lender to
come up with a reason as to why they're more at risk with an LLC
holding title and a note that's personally guaranteed by the approved
lendee.
Ian

Ian,
There are a few lenders who will permit holdings under a LLC. Lenders do
not have to provide any reason, 'valid or sensible' to lend you 'their'
money. It is their money and as such, their rules which must be followed.
There might be a few ways to effect what it is you seek to do.
SS

SS,
Thanks for the response. Who are these lenders? I'll get on the
phone to them tomorrow.
I understand it's their money, but it seems so inflexible. I'm not
forming an LLC to dodge my liability to the bank. I'm forming an LLC
to protect my assets, which I would think the bank would want, since
their loan is secured against the asset. But, you're right. When you
have the mulah, you make the rules.
Ian

Ian,

I do not have enough information to make recommendations, save one, find yourself a good mortgage banker or broker
and they will be able to get it done.

I lend only in Georgia, Florida, Tennessee and South Carolina at the moment.

Good luck.

SS


--
Samuel Stovall
Mortgage Banker
Home America Mortgage, Inc.
Lawrenceville, Ga. 30045
770.817.9801
678.623.0219 (Fax)


... making mortgages simple ...

[Noel Navarro]

I will be more than happy to see what I can do for you. Give me a call
866.213.5784 or 775.232.3266 ask for Noel.

Post by Bo195

Post by iforsyth
I am an investor and I would like to find a mortgage where I can take
title as an LLC for asset protection, but personally guarantee the
note, e.g. the note will be in my name. I have not found any bank
that will allow me to do this after closing without telling me that
I'll activate the due on sale clause.
If there are ANY lenders out there that will allow me to individually
get a note based on my good credit (FICO is 760) and hold title to the
investment property as a newly formed LLC with my name on the note,
please respond to this thread. Providing your rates are reasonable,
e.g. on par with individual mortgage loans and not commercial loans, I
will give you 100% of my business. My attorney told me that there is
absolutely no additional risk to the lender if I personally guarantee
the note, which I'm willing to do. In fact, I challenge any lender to
come up with a reason as to why they're more at risk with an LLC
holding title and a note that's personally guaranteed by the approved
lendee.
Ian

Ian,
There are a few lenders who will permit holdings under a LLC. Lenders do
not have to provide any reason, 'valid or sensible' to lend you 'their'
money. It is their money and as such, their rules which must be followed.
There might be a few ways to effect what it is you seek to do.
SS

[S R S]

Post by iforsyth
I am an investor and I would like to find a mortgage where I can take
title as an LLC for asset protection, but personally guarantee the
note, e.g. the note will be in my name. I have not found any bank
that will allow me to do this after closing without telling me that
I'll activate the due on sale clause.
If there are ANY lenders out there that will allow me to individually
get a note based on my good credit (FICO is 760) and hold title to the
investment property as a newly formed LLC with my name on the note,
please respond to this thread. Providing your rates are reasonable,
e.g. on par with individual mortgage loans and not commercial loans, I
will give you 100% of my business. My attorney told me that there is
absolutely no additional risk to the lender if I personally guarantee
the note, which I'm willing to do. In fact, I challenge any lender to
come up with a reason as to why they're more at risk with an LLC
holding title and a note that's personally guaranteed by the approved
lendee.
Ian

If you have not found a lender yet, please email me at ***@comcast.net.
I may be able to help you.

Sylvia