jkb asked:
I set up an LLC when purchasing some rental properties (3 fourplexes) and might need to go into foreclosure. Will this impact my personal credit? My wife and I are the sole members of the LLC.
How does a foreclosure impact your personal credit if its owned under an LLC?
July 7th, 2009 | Renting & Real Estate
1 comment so far ↓
Chances are your title report will list you as the homeowner, even though the loan is in your LLC name. Your lender will have your SS#.
You can bet the lender will exhaust every avenue to go after their money.
Thought about getting the payments lower, so you can afford to keep the property’s?
You could have an attorney negotiate a lower payment, or you can do a modification yourself legally. See web site
Leave a Comment