Tuesday, February 23, 2010

How buy house under Corp/business name?

How buy house under Corp/business name??


My credit is bad since I missed a payments on several of my properties. It'll be impossible to buy under my own credit.





How can I buy it under business/corporate name? Do I need to establish a corp/LLC or some form of business entity to be able to buy a property?


Thanks.How buy house under Corp/business name?
YOU WILL NOT.





LLC and corps are used as forms of ownership, not to get the loan.





You will need to personally sign for the loan - especially since it will be your home.How buy house under Corp/business name?
Your question is not how to purchase under a business' name, it's how to get a mortgage under the business's name.





Given the present lending standards, you will need to have established credit under the business' name for at least two years, and you will need to co-sign the debt personally.





Given the scenario you mapped out, it sounds like you don't have the business credit already established, nor can you cosign the debt because of your credit. This shows the system works.





You don't solve a credit issue by borrowing more money. You should be more concerned about correcting the present debt issue. When you are in a position to borrow, all you will need to do is walk into any bank and tell them how much you want to borrow.

No comments:

Post a Comment