Artesia, 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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| Artesia, California News |
Giving Back on "The Big Spin " Show
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Project will close RB's north library
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Overturned car closes freeway transition
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Man killed in freeway crash was a Long Beach pastor
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2 identified in 91 Freeway crash
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Tirupathi Bhimas
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Pico Rivera fills city leadership posts
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Bulletin Kill
Sumita Batra, 39, originally form India, who owns a chain of Indian-influenced beauty salons in Southern California, said she has two close friends who are in Mumbai for the holiday season, monitors the ...
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Heavy rains shut down flooded parts of Harbor Fwy north of the 91 Fwy
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US Fears Pakistani Role in Mumbai Attacks
Sumita Batra, 39, right, and her daughter Maya, 13, receive text messages from a friend who is in... Sumita Batra, 39, right, and her daughter Maya, 13, receive text messages from a friend who is in Mumbai for ...
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US officials: Americans still at risk in Mumbai
Sumita Batra, 39, originally form India, who owns a chain of Indian-influenced beauty salons in Southern California, said she has two close friends who are in Mumbai for the holiday season, monitors the ...
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Mumbai shock waves reach Southern California
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Flooding Forces Closure of SoCal FreewaysThanksgiving holiday travel gets messy
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Justice and Peace Honors
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Freeways Closed
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Chiropractor speaking to ABWA
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Engagement / Hudspeth - Silva
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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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