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New London, CT Divorce Buyout in Connecticut
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 Connecticut, 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.
Return to divorce buyout in the state of CT
| New London, Connecticut News |
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New London Lighthouse
Cite This! Close Please copy/paste the following text to properly cite this HowStuffWorks article: Publications International, Ltd., the Editors of.
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Geography of New London
"Geography of New London." 30 March 2008. HowStuffWorks.com. 20 November 2008. New London, Connecticut, a city in New London County.
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Pilot, passenger OK after plane crash
State police say a pilot and his passenger are in good condition after the crash of a small plane near the Groton-New London Airport.
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Mystic River Ambulance official charged with sexual assault
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Civilian Worker Injured At Groton Helicopter Facility
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Second Lighthouse Inn Owner Charged
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Study of New London saloons reveals new findings
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Post Kelo. Whatever happened to the New London, CT redevelopment project?
As a long time supporter of private property rights, and having met Susette Kelo and the Cristofaro's whose names are known around the globe, I try to stay up to date with the redevelopment project for which ...
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New London native earns Midwest Emmy Award for weekly TV series
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Bynum Pleads Guilty ... or Does he?
Joseph Bynum decided to plead guilty Thursday rather than face a trial on charges he nearly killed his girlfriend's 13-month-old daughter in New London two years ago.
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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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