Owning property under corporation - Posted by Karen

import · July 22, 2003, 3:47pm

Posted by Karen on July 23, 2003 at 17:44:24:

I actually bought the properties before I started the corp. Was previously self-employed, then created the corp. and transferred the deeds in the name of the corp.

import · July 22, 2003, 3:47pm

Posted by Karen on July 22, 2003 at 15:47:37:

I own 2 properties under my corporation, of which I am the only person of and president. The 2 properties I own are my current primary residence and a commercial property in CA. I’d like to refinance my current mortgage on my home to pay off the mortgage on my commercial property along with my credit card debts. I’ve heard that lenders have a proplem with refinancing a property if the deed is under the corporation. Is this true ? What can I do about this ?

Thanks!

Karen

import · August 27, 2003, 10:49am

Re: Owning property under corporation - Posted by Anthony-OH

Posted by Anthony-OH on August 27, 2003 at 10:49:58:

I was told by a lender to just transfer them back into my name, refi, and then transfer them back to the corp.

import · July 23, 2003, 12:16pm

Re: Owning property under corporation - Posted by Raisi Smith

Posted by Raisi Smith on July 23, 2003 at 12:16:48:

I am about to start a corporation and I was wondering did you already have an existing business that had credit that allowed you to purchase under your corporation? If not how did you establish credit under your corporation so that you qualified to purchase 2 homes?