COVID-19 Updates and Forbearance Info

As a designated “essential business,” JVM Lending is open and funding mortgage loans during the COVID-19 crisis. Most types of mortgage financing remain available for qualified borrowers. If you are looking for information relating to payment forbearance, please see JVM's Forbearance Resource Center.

Posts

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 a loan, but not on title and vice versa (on title but not on loan). If a borrower is on the loan, he or she must also be on title. This does not mean the borrower cannot quitclaim off title after close of escrow, however. […]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

Docs in Title? Coast is NOT Clear; No Changes!

Many borrowers, Realtors and Escrow Officers mistakenly believe that once loan documents are in title that the “coast is clear”, and that everything is done. That, however, is not the case. Borrowers need to be careful to not change anything. We recently had a borrower change insurance companies at the 11th hour despite our requests […]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