Tag Archive for: title

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

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”

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

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

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

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