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What is a Trust Letter to Mortgage Lender?
You'll probably need a Mortgage Trust Letter when executing a transfer of property to a living trust. After all, real estate transactions typically need to be in writing. Maybe you need to let your lender know, or maybe another financial institution needs to stay in the loop; either way, it's best to document the process up front. Transferring bank accounts and stocks to your living trust is one thing, but real estate is a big deal - it's probably the biggest investment or asset you have. Make sure the transfer goes smoothly with a Trust Letter to Mortgage Lender.
When to use a Trust Letter to Mortgage Lender:
- You need to let an institution know about your real estate transfer to a living trust.
- You're notifying your lender about the transfer.