Finally a straight answer on this all too common question. Thank you
@MauricioJRauld Жыл бұрын
Thank you!
@CraigKammanMN Жыл бұрын
Thanks for siting the Fannie and Freddie rules on that, I was unaware they had those guidelines in place. I just thought the low risk was banks don't look unless you are delinquent on payments.
@MauricioJRauld Жыл бұрын
Yup.
@aceofslayz Жыл бұрын
Thanks for the valued content.
@yeahjug03 Жыл бұрын
Extremely informative. Thank you
@elizabethohnesorge5861 Жыл бұрын
Thank you, wonderful information.
@MauricioJRauld Жыл бұрын
You are welcome
@izetsalihbegovic115 Жыл бұрын
Reason why Pace M did not have issues is the chart that you have shown. Rates were going down so it was not in interest of the banks to invoke the clause. If rates were going up then they will, just as they made sure clause is there during the 80's.
@MauricioJRauld Жыл бұрын
Don't know if that is the reason, BUT, I agree with you re the larger premise. I've actually mentioned that in prior videos. But my main point is that is still a different scenario as to when you transfer to your own entity and as long as the Fannie and Freddie guidelines remain in place I dont beleive its an issue. Thats what we really need to keep an eye out for.
@eliknapp8412 Жыл бұрын
Great info thank you so much
@MauricioJRauld Жыл бұрын
My pleasure
@luisgil3034 Жыл бұрын
Absolutely amazing! Thank you guys.
@Izzy-uf5rd6 ай бұрын
Hi Mauricio / Ken, so I understand the property is deeded over to the LLC. How about the Mortgage? Does the mortgage remain under the person's name or is it moved to the llc as well? Did you have a video on the types of Deeds and which one would be best for this situation? Awesome video!
@craigslist8011 Жыл бұрын
What happens if the originally borrower wants to transfer the property into an LLC but add someone else as a 50% owner in the LLC? So original borrower would be 50% and another person not on the loan would also be a 50% borrower.
@MauricioJRauld Жыл бұрын
That changes things. I would argue that becomes more like scenario 1
@charleskramer1120Ай бұрын
due on sale clauses originated from interest rate spikes, but not the huge one of the early 80s. These clauses began to appear in the late 1960s in response to interest rate spike at that time, and were regularly challenged in court, often successfully, as being an illegal restraint on alienation. The matter was pretty much settled by federal law in 1982 with the passage of the Garn-St Germain Act.
@farrukh.rasheed Жыл бұрын
Why not obtain mortgage directly in LLC name, i.e. buy through LLC?
@hlehman1987 Жыл бұрын
Most banks won’t extend as desirable lending terms to an LLC as they will to an individual.
@MauricioJRauld Жыл бұрын
For commercial loans, yes. But for SFH or 1-5 they typically want to lend to an individual. Maybe a community bank will do into an LLC but terms not as favorable.
@BeFearless_.1 Жыл бұрын
"Do" or "Due"?
@CraigKammanMN Жыл бұрын
Due. But misspellings happen when you are being real.
@MauricioJRauld Жыл бұрын
Due
@1800Scott Жыл бұрын
Don’t transfer! You can avoid all of that with a lease option / purchase agreement!
@MauricioJRauld Жыл бұрын
Then the seller retains all the liability which not sure they want, right?