Tag Archive for: title

Buying Out Spouse/Partner = Refi; Not Cash Out or Purchase

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We recently received the below email from a borrower who left us for what he thought was a lower rate.  “Hi Casey, The other lending company fell through and couldn’t get us a loan in time. Their customer support was horrible and wouldn’t provide me with a direct answer. We would like to see if […]Read More

What Happens When You Quit-Claim Off Title; “Due On Sale”

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Borrowers often ask us if they can quit-claim off title after they purchase a property. We first remind borrowers of this: If a borrower quit-claims off title he or she is still obligated to pay the mortgage. If the person remaining on title fails to make timely mortgage payments, the quit-claiming borrower’s credit will be […]Read More

If a Buyer Is “On” The Loan, He Must Also Be “On” Title; “Title Only” Always OK

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We often get questions about whether buyers can be on the loan, but not on title and vice versa (on title but not on the loan). If a borrower is on the loan, he or she must also be on title. If a borrower is on the loan, he or she must also be on […]Read More

Must Be On Title to Be On Loan; Must Refi to Get “Off” Loan

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We sometimes have borrowers who want to be “on the loan,” but not “on title” (for tax reasons usually). This is impossible, however, as lenders require all borrowers qualifying for a loan to also be on title. Conversely, we often have borrowers who want to be on title, but not on the loan, and that […]Read More

Must Be On Title to Be On Loan; Must Refi to Get “Off” Loan

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We sometimes have borrowers who want to be “on the loan,” but not “on title” (for tax reasons usually). This is impossible, however, as lenders require all borrowers qualifying for a loan to also be on title. Conversely, we often have borrowers who want to be on title, but not on the loan, and that, […]Read More