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Colorado Corporation Second Home

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scbaroch Joined: 27 Feb 2011 Posts: 1 1.28 Dollars($)	Posted: Sun Feb 27, 2011 10:42 am    Post subject: Colorado Corporation Second Home Like 0 Dislike 0 Two couples are interested in buying a second home togeteher in Colorado. One couple is from Colorado, another from New Jersey. We will need to borrow some money for the project. Should we form an LLC? Can an LLC get a mortgage on a second home in CO (we understand it cannot in other states). Thanks. - Steve
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Sun Feb 27, 2011 7:52 pm    Post subject: Like 0 Dislike 0 Welcome scbaroch, You can form an LLC but not all lenders will be ready to give a mortgage to a LLC. You should speak to individual lenders and they will go through your situation and let you know whether or not they can give you a mortgage. _________________ Procrastination is the enemy of your financial success

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