Posted on: 12th Aug, 2009 11:54 am
could the bank call our mortgage if we qcd the property into our personal trust?...my husband & i created a trust several years ago to protect our assets for our children but we never filed the qcd. we would like to do that now. do we have to get our mortgage re-financed in the trust name? i'm not sure if we would get approved for this. we are not delinquent but our payments are usually paid 10 days late. also, if we don't refinance the mortgage and the title is changed, could the bank call the loan?
10 days isn't going to cause anyone to deny you credit.
your mortgage undoubtedly has a due-on-sale clause, so you could find a request from the lender that you take some action.
you may never hear from them also...it's possible, either way.
your mortgage undoubtedly has a due-on-sale clause, so you could find a request from the lender that you take some action.
you may never hear from them also...it's possible, either way.