After the early death of his father in 1507, a regency council was formed, consisting of the Count of Spiegelberg, the Lord of Diepholz and his mother.
His younger brother John VII entered into Swedish service and became governor of Vyborg.
Jobst and his family found refuge with Count Edzard I of East Frisia.
In 1519, a compromise was found and Hoya was returned to Jobst, after he paid a huge sum of money.
Jobst's reign saddled the county with heavy debts and mortgages on many manors.