Mortgage Refinance, Reverse Mortage, Home Loan

Reverse Mortgage Divorce Buyouts Debt Consolidation Home Improvement Purchase Refinance

Search Somerset:

Learning Center

How Home Equity Works Consolidating Debt Home Equity Loan vs. Home Equity Line of Credit How Much Mortgage Can I Afford How to Apply for a Mortgage Reasons to Refinance Now How FHA Loans Work How Reverse Mortgages Work Why Choose an FHA Mortgage Mortgage Glossary View All Mortgage Articles

Mortgage Tools

Mortgage Payment Calculator How Much Can I Afford?Debt Ratio Calculator Refinance Savings Calculator Mortgage Comparison Calculator Second Loan vs PMI Calculator Mortgage Length Calculator Mortgage Principal Calculator View All Mortgage Calculators

Company

About Somerset Contact Us Driving Directions Licensed States Careers

Loan Programs

Apply Online View All Loan Programs

NM Divorce Buyout in New Mexico

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 New Mexico, 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.

Local bad credit divorce buyout directory for NM :

Return to our bad credit divorce buyout page

Bad Credit? We can help!

Call for COMPLETE details NOW!

(800) 675-9783

New Mexico News
Secretary of state deck has wild card With the election of a president who emphasizes the need for tough diplomacy, his choice for secretary of state becomes especially important.
New Mexico Computing Applications Center Brings One of the Worlda s... Today, Darkstrand, a pioneer in corporate high-speed connectivity bridging research and commercialization, announced a strategic partnership agreement with the New Mexico Computing Applications Center , a ...
Governor backs Election Day voter registration Gov. Bill Richardson is backing a proposal to allow New Mexicans to register and vote on Election Day.
Exclusive: Bill may give up foreign income Bill Clinton speaks on behalf of the Clinton Foundation in China. To satisfy Obama's vetting team, Bill Clinton is open to giving up foreign sources of income if his wife becomes secretary of state.
Governor Wants List For Capital Project Cutbacks Gov. Bill Richardson has ordered state agencies under his control to develop a plan for 15 percent reductions in spending on capital improvement projects.
NM Transportation chief Faught to retire State Transportation Secretary Rhonda Faught announced that she will retire from her position at the end of this year, capping a distinguished 21-year career in state government.
Will Hillary Clinton get the job or not? WASHINGTON: The guessing game continues. Will Hillary Clinton get the job of President-elect Barack Obama's Secretary of State or not? Those in the prediction markets think it's in the bag for her.
Legislature gets greener in this year's elections Not all of those elated by this year's election results are seeing blue. Some are admiring the green.
Poll: Obama s treasury secretary selection most important to Americans A poll released on Monday showed that among President-elect Barack Obama's selection for his cabinet posts, the treasury secretary was considered most important to Americans.
Should President-elect Barack Obama select Hillary Clinton as... Speculation is under way about whom President-elect Barack Obama will choose for his Cabinet.
Moratorium on utility shutoffs begins The state Public Regulation Commission says a moratorium that protects low-income New Mexicans from having their utilities disconnected over winter has begun.
Obama, McCain to Meet Today In Chicago A big meeting of former foes Monday in Chicago. Obama, McCain To Meet President-elect Barack Obama and Sen.
NM House GOP elects leadership Rep. Keith Gardner of Roswell has been elected minority whip by Republican members of the New Mexico House of Representatives.
Hundreds of New Mexicans protest anti-gay measure The debate over the vote in California to define marriage as between a man and a woman has reached New Mexico.
New Mexico joins lawsuit against beef packer New Mexico Attorney General Gary King has joined the U.S. Department of Justice and other attorneys general in an antitrust lawsuit against Brazilian beef giant JBS SA.
Domenici's field offices to close Friday U.S. Sen. Pete Domenici's field offices around New Mexico will close Friday. The senator, who is retiring at the end of the year, announced today that, as required by Senate rules on transition, his offices in ...
Drug Use, Suicide Attempts Decreased In New Mexico High School The New Mexico Department of Health and the Public Education Department released results today from the 2007 Youth Risk and Resiliency Survey that surveyed about 11,300 high school students across the state ...
Clinton for Secretary of State? Sen. Hillary Rodham Clinton looks up during a Veterans Day event at the Intrepid Sea-Air-Space Museum in New York City.
Val Kilmer wants to be New Mexico Governor? Val Kilmer wants to be New Mexico Governor? American actor Val Kilmer is deciding on joining politics and running for New Mexico Governor.
Whew! Relief at the fuel pump comes to NM Gasoline prices in New Mexico have dropped an average of 80 cents per gallon in a month's time.

Save time with our easy online mortgage application.

With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.

Learn More

"I prayed day and night for a miracle...In less than a week, (Somerset) was able to stop the foreclosure and get a new mortgage for me. It was the best of times...I have Somerset Mortgage Lenders to thank until eternity for the miracle they were able to make come true." - Diane B.