Can I close my loan in the name of a Trust?
Loans may be closed in the name of a Trust. We will need a complete copy of the trust, plus the Certificate of Trust, for our review before we can allow the loan to close in the name of the trust. Alternatively, we can do some deed-work and close the loan in your name(s) (pulling the property out of the trust) then deeding the property back into the trust, after the new first mortgage deed of trust is recorded. This happens seamlessly by title, and just increases your recording fee a bit to do so. Some clients prefer this to avoid the bother of the trust review.
- What happens at the loan closing?
- How can you close my loan if you are not in my area?
- Can I select my own closing agent and title insurance company?
- Can I close my loan in the name of an LLC?
- How soon after I sign loan documents will my loan close?
- If I am receiving cash out at the end of the transaction, how will I receive my proceeds?
- If my loan is closing around the first of the month, should I still make my payment to my current lender?
- What happens to my loan after it closes?
- Can I make my monthly payments with an automated debit from my checking account?
- Can I make a bi-weekly payment?