Alturas, CA Divorce Buyout in California
Since 1979 Somerset Investors Corp. Co. has been considered a leader in the residential mortgage lending business and is currently licensed in 26 states, including California, offering its expertise in many of the circumstances that life brings to many homeowners. In most cases Somerset has been able to provide lower payments for the spouse remaining while giving large cash outs to the other. Our Divorce Buyout Loan Specialists work with you to determine how much of a loan you need and what it will cost to refinance.Following is an example of how Divorce Buyout works:
Example: John and Jane own a house valued at $500,000, with a mortgage (or mortgages) that total $300,000. If you subtract the value from the total loan about ($500,000 - $300,000) you get the equity of the house, in this case $200,000. If John and Jane split their assets 50-50, each have $100,000 equity in the house. Therefore, if John wishes to keep the house, he would need to refinance the mortgage(s) with a total loan amount of $400,000 and use the remaining $100,000 to buy out his spouse.
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| Alturas, California News |
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Congressional rep should live here
My congressman must be an integral part of Nevada County and know all of California District 4. That means dedication to, living, working and raising a family here, and for the long term.
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Old-growth Sierra junipers felled amid warming debate
Moments after he saw the centuries-old junipers on the ground, Glenn Fair felt sick to his stomach.
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Wildfire near Gerlach expected to be contained today
Firefighters expect this afternoon to fully contain a small wildfire burning north of Gerlach.
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100 years ago Daily News, July 21, 1908
Goose Lake and Southern Railway Proposes To Run From Oregon Eastern Railroad The Company will build and operate a line from the east side of Goose Lake ... that will connect with the Oregon Eastern railroad and ...
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100 years ago Daily News, July 21, 1908
Goose Lake and Southern Railway Proposes To Run From Oregon Eastern Railroad The Company will build and operate a line from the east side of Goose Lake ... that will connect with the Oregon Eastern railroad and ...
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With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
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"Our family would like to thank Somerset Mortgage Lenders for getting us out of foreclosure. Without your help we do not know what would have become of our family. When we first called, we were in Chapter 13 bankruptcy...Not only will we now be able to keep our home, but we'll be able to put ourselves on track financially, thanks to all the efforts of the wonderful people at Somerset. We will be forever grateful to you all." - Scott & Amy
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