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Arlington, MN Divorce Buyout in Minnesota
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 Minnesota, 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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| Arlington, Minnesota News |
Cover story: How to succeed in corn growing without really trying*
Riding shotgun in a John Deere 9550 combine and watching the monitor punching up 240 to 250 bushels-per-acre yield with 20 percent moisture is exciting anytime.
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Veterans Day offers many ways to remember, honor
Vietnam Veterans of Southern Minnesota is celebrating its 25th year as a charter nonprofit group and the 20th anniversary of the Blue Earth Nicollet County Memorial.
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Sibley East School Official Charged with Sexual Misconduct
A Sibley East high school employee is out on bail tonight after being accused of having sex with a student.
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Sibley school official charged for having sex with student
A local school district's transportation director in Sibley County faces five counts of first-degree criminal sexual conduct, for allegedly having a sexual relationship with a 15-year-old girl.
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Marie Vossen
Mass of Christian Burial will be 11:00 a.m. Friday, October 17, 2008 at St. Mary's Catholic Church in Arlington.
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Arlington restores 118yearold fire hall
Arlington restores 118-year-old fire hall Eds: APNewsNow. ARLINGTON, Minn. The Arlington Historic Restoration and Preservation Committee's long work finally paid off with the newly restored 118-year-old ...
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New hardware store challenges big boxes
For Dave Neiman, the comment from a customer who came into his new store in Mankato this week was exactly what he'd hoped to hear.
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Rail coalition forms
About 100 elected officials, public servants, business and industry leaders attended a meeting to form the Minnesota Valley Regional Rail Coalition Wednesday at the Winthrop Vets Club.
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A smashing good time was had at combine demo derby
A near sold-out crowd enjoyed the sights of metal torn from combines like clothing, tires folding like cards, and eardrum popping sounds of punctured giant tires during Wednesday's Combine Demolition Derby at ...
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A berry good strawberry season
Even though you must hunker down on the ground to pick strawberries, the fruits of the labor are sweet, this year especially.
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Eggs-ellent
Posted on May 22nd, 2008 6:55 AM By Rick Nelson Truth in advertising: These eggs, from Bar Five Farm in Arlington, Minn., are as farm-fresh as they come.
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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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"Every other company said they could not help us. After speaking to about five companies, we really believed that no one could. Then we called Somerset, and your company proved us and those other companies wrong. We can't thank you enough for all your hard work and effort in getting us a low fixed rate. We can now breathe easier..." - L. Braun
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