Rental #1 Refi Update

On Saturday, I got an email from my escrow agent regarding the refi of Rental #1. It was the Quit Claim deed transferring the title from my LLC to my wife and I personally. This needs to be done because the lender will not mortgage to an LLC. As soon as the mortgage is recorded, I'll transfer the title back to the LLC. I again reminded the escrow agent that I plan to do this. She said no problem. I need to watch this, because I just know it's a step that will be forgotten.

Anyway, I had the Quit Claim notarized today and dropped it in the mail. I haven't heard if the appraisal of the property has finally been done or not. Last week, my mortgage broker called and asked for the name and contact number for the tenant, so he could schedule the appraisal. The number I had turned out to be out of service, which must have happened recently since it was a working number a while ago. I gave the broker the names of the other people living there in case he wanted to try to look up their numbers. I also gave him the phone number and name of my property manager. He said he would put the appraiser in touch with the property manager and let them work it out.


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