Faribault, 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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| Faribault, Minnesota News |
Expansion of city wastewater treatment plant set to begin in May
Dean Nelson, Owatonna Wastewater Treatment Plant manager, stands in the plant Tuesday.
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Brady named chair of '09 DJJD committee
Blame Shelley Brady's daughter. It was Jodi Doubbelaere's interest in the Defeat of Jesse James Days royalty scholarship program, Brady said, that got her involved in the DJJD celebration.
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Janice M. - Jan' Anderson
Jan Anderson, 71, of Blue Earth, died Sunday, Dec. 28, 2008, at St. Marys Hospital, Rochester.
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NTSB: Failure To Maintain Airspeed Led To Crash
The National Transportation Safety Board says the pilot did not maintain airspeed adequate for the gusty crosswind conditions.
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Editorial: What are they teaching students in Faribault?
There is no way a school district can instill American values into its students if part of their education is the shutting down of the student newspaper because the superintendent didna t get to see the story ...
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NTSB: Crosswinds to blame for fatal Faribault crash
NTSB report on Faribault plane crash nearly ready [11.25] When the plane crashed there was virtually nothing left of the Cirrus single engine, only smoking debris and a parachute that investigators believe ...
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Grow Minnesota! helps retain jobs in Park Rapids
Grow Minnesota! was launched five years ago on the premise that Minnesota's existing businesses were not getting enough one-on-one attention.
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For 5 years, Faribault woman gets $100 gift
For the last five years, a Faribault woman has received an anonymous card in the mail around Christmas-time with $100 in cash.
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Editorial: Young journalists learn limits of First Amendment
Some journalism students in Faribault are discovering that despite guarantees in the Bill of Rights, freedom of the press has its limits.
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Gladys G. Roberts
Gladys Georgia Roberts, age 91, of Garden City, died Monday, December 22, 2008 at her home.
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Maplewood / 4 make cut for manager position
The Maplewood City Council has narrowed its city manager search to four finalists.
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MnDOT issues no-travel advisory in southern Minnesota
The Minnesota Department of Transportation is asking residents in the southern part of the state to stay off the roads.
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Medford woman charged with felony tax crimes
A Medford woman who allegedly threatened to file criminal fraud complaints against Minnesota Department of Revenue employees now faces felony tax evasion charges, the department announced Friday.
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Faribault student paper remains shut down
MNStudent Newspaper Shutdown,0118 Faribault student paper remains shut down Eds: APNewsNow.
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MOD Squad looks out for risky driving
NORTHFIELD a ' A Dec. 5 event designed to reduce violations that contribute to automobile accidents and related injuries netted two arrests for underage consumption; none for driving while impaired.
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Faribault Co. resolves job title is.....
A job title rift for the move into the new Faribault County law enforcement center has been resolved.
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Minnesota Student Newspaper Shut Down After Clash with Superintendent
FARIBAULT, Minn. The student newspaper at Faribault high school is shut down -- after the student editors refused to allow the superintendent to review an article before publication.
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Man pleads guilty in Rice Co. toddler's accidental shooting death
Mom, boyfriend charged in Rice Co. boy's shooting death [9.17] Babysitter talks about family [8.7] 3-year-old accidentally shot, killed by sister in Rice Co.
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Faribault superintendent shuts down student paper
Faribault School District Superintendent Bob Stepaniak shut down the high school's student newspaper today, after the student editors refused to allow the him review an article before publication.
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Man pleads guilty to sexually assaulting Minneapolis woman
Danny Donnay Robinson, 38, pleaded guilty Friday to criminal sexual conduct in connection with an April 2000 attack on a 78-year-old south Minneapolis woman as she was getting into her car.
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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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"...I was sure that Somerset was the right choice...they couldn't have been more compassionate or understanding...I just couldn't believe that this all happened within a week...Thanks to my loan officer and all the rest of those great people at Somerset, my family will be able to stay in the only home they have known for some time, without fear of being put out." - Tom N.
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