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Investors & landlords
@Rich AR wrote:
......the lender required a personal guarantee for the repayment of the loan. For them, this satisfied their concern about recovering payment from the LLC.
That typically satisfies all of the lenders, assuming they even notice that there has been a quitclaim deed from the individual owner to an LLC.
The original mortgagor (borrower) remains personally liable on the note in any event.
‎October 11, 2021
11:58 AM