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Flagstar Bank LLC TransferFlagstar Bank LLC Transfer - BiggerPockets Flagstar may exercise the "due on sale" clause if the name(s) of the buyer are not the same name(s) as the members identified as the owners of the LLC For clarity; as with a trust, lenders do not exercise the "due on transfer sale" clause when real property is transferred to the SAME individuals in an official capacity (e g Joe and Jane Smith
Due on sale clause was called by bank!Due on sale . . . - BiggerPockets I wanted to share a recent experience I recently received a letter from one of my lenders (Flagstar bank) calling out a deed transfer I made around 2-3 years ago I transferred a deed via quitclaim from my name into an LLC The loan was secured in my name as it was one of my first 4 Fannie loans
Anyone use Flagstar Bank? (HELOC) Anyone use Flagstar . . . - BiggerPockets However I searched the bank and it's reviews and found many bad ratings Most sounded pretty petty and about illogical unexpected fees and more about customer service Mind you I am in NY and they have locations all over the USA Didn't see many complaints in NY but very off-putting as a whole No one wants a problematic institution out the gate
Flagstar Bank requiring personal banking accountFlagstar Bank requiring . . . We received a notice from Flagstar stating that starting in January 2021 they will no longer be accepting mortgage payments from business accounts We set up business accounts for each of our properties (this is the only one with Flagstar) The mortgage is a conventional primary residence for our 4 plex that we house hack
Flagstar Loan COVID Forbearance OptionsFlagstar Loan COVID Forbearance . . . Just wanted to post a quick re-cap of the options that were laid out for me during my recent phone call with Flagstar Loans Put my duplex into forbearance at start of COVID and as I am gearing up to move out of forbearance I wanted to assess my options I spoke with four different representatives and received four different responses
What bank should I use for a checking account for a . . . - BiggerPockets Almost irrelevant I've used pretty much every major bank that exists and the differences aren't even worth talking about My preference for business banking is lots of branches in different states, since we get a fair amount of out-of-state tenants these days, and something that pays decent on idle cash Beyond that I don't really care all
Can the bank force a buyer to use their title company . . . - BiggerPockets I have a client that is working with a local New Orleans bank to purchase a piece of land The seller's agent instructed us that a particular title company (that is reputable) would be able to give the buyer a good deal because they had already begun title work on a previous sale for this property that fell through
How to setup Holding and Subsidiary LLC bank . . . - BiggerPockets The bank will need to add you as a signer just like they did for the original holding co LLC and used your companies EIN number not your SS # All LLC companies should have an EIN number (not required but suggested) not your SS # and if a bank wants to use your SS # find a new bank
Bank needs to be a loss payee on the home owner policy . . . - BiggerPockets I am in the process of getting approved for a HELOC and the Bank wants to see a new declaration page with their name on it as a loss payee on the home owner policy I have never seen this in my previous loans, even though it makes sense to me for them to become a payee after approving the loan
US bank REO Department US bank REO Department - BiggerPockets This property hasnt been listed yet but I wanted to get some information on when it could possibly be listed In public records on MLS, it states the last buyer name as US bank NA Tr for a sales price of 421k which seems like an astronomical amount for them to pay for this house I really want to buy this property if possible