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Alturas, FL Divorce Buyout in Florida

Since 1979 Somerset Mortgage Lenders Co. has been considered a leader in the residential mortgage lending business and is currently licensed in 26 states, including Florida, 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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Alturas, Florida News
Rain System Turns Polk Soggy

Published: Thursday, July 17, 2008 at 8:49 a.m. Last Modified: Thursday, July 17, 2008 at 2:06 p.m. LAKE WALES A low pressure system that dropped 6 inches of rain on Lake Wales and just under half an inch on ...


Measured Rainfall Varies Across Polk

Published: Thursday, July 17, 2008 at 6:10 a.m. Last Modified: Thursday, July 17, 2008 at 7:12 a.m. Tuesday was another example of the hit-and-miss nature of Central Florida's rainy season, as evidenced by ...


Polk's School Grade Rises From C to B

Published: Wednesday, July 9, 2008 at 6:21 a.m. Last Modified: Wednesday, July 9, 2008 at 10:47 a.m. LAKELAND The Polk County School District has climbed from a C to a B in the state's annual report card even ...


Swap Shop

Published: Monday, June 30, 2008 at 6:11 a.m. Last Modified: Monday, June 30, 2008 at 7:11 a.m. seeking FOREST GREENERY We are doing a rainforest theme in our library at Churchwell Elementary for next school ...


Alturas Brush Fire Burns Shed

Published: Saturday, June 7, 2008 at 7:53 p.m. Last Modified: Saturday, June 7, 2008 at 7:55 p.m. ALTURAS Four agencies worked together to gain control of a two acre brush fire in Alturas earlier this ...


3 Brush Fires In Polk Contained

Brush Fire Near Alturas A brush fire in Alturas in Polk County this afternoon has been contained, public safety spokeswoman Heather McClanahan said.


Financial Fitness Friday

"Advice about money is easy to get. Getting good advice about money is a bit more difficult. Learning something about the importance of saving and putting saved money to work is priceless - and, for a few hours today, free as well."

T uesday's tax-filing deadline has passed. Maybe a refund will be on its way. Certainly nearly every Polk household will eventually be getting a $600 or $1,200 check from the government as part of the Economic ... via The Ledger


Polk internet beating may have inspired copy-cat crime

Police in Indiana say a group of middle school girls who videotaped the beating of a 12-year-old schoolmate and put it on the Internet may have been inspired by a similar video in Florida. via WTSP-TV Saint Petersburg


World War II flying ace fights to get out of Polk jail

A noted World War II flying ace from central Florida will find out next month whether he'll finally get out of jail. via The Orlando Sentinel


Twice a week watering returns, but only for a few

South Florida Water Management District votes today to ease water restirictions; only small portion of Charlotte County in that region Current water restrictions There are a handful of Charlotte County ... via North Port Sun


Polk County Sheriff Grady Judd at ease in spotlight

"He is the same person all the time"

Locals already know Grady Judd as the no-nonsense sheriff who isn't afraid to tell it like it is and has no qualms about publicly condemning criminals. via The Orlando Sentinel


Putt Today Or April 25

DILLON DANIELS, from left, Brian Knowles, Lindsey Aderholt, Alise Gore and Chalsi Goheen promote the Citrus Center Kiwanis Club's Take Stock in Children Scholarship Scrambles. via The Ledger


Wet weather leads to loosened water restrictions in South Florida

"It can turn around really quickly if we don't get the rain"

South Floridians will be able to water their lawns twice a week under loosened restrictions the state approved Thursday, as an uncommonly rainy dry season recharged vast swaths of the drought-stricken region. via The Florida Times-Union


Video Beating Case

"It's incumbent upon us as a society not to accept this"

Outraged by a video circulating on the Internet and cable TV of a Polk County teenager being beaten by other girls, dozens of people from across the country are calling Darlene Ashley at all hours and filling ... via WMBB-TV Panama City


30 Arrests Leave Polk Drug-And-Gun Ring Broken

"Others broke into houses and stole guns."

BARTOW A West Central Florida gang that dealt in drugs, stolen property and weapons - including a World War II vintage bomb launcher that was used to destroy enemy tanks - was broken with the arrests of some 30 ... via Tampa Bay Online


Week used to register students

Polk schools highly recommend registering new kindergarteners prior to school starting next year. via News Chief


Abortion Bill Would Require Ultrasound

"If a woman wants to have an ultrasound it should be at her request"

A pregnant woman must receive an ultrasound and be given the option to look at the image before having an abortion in Florida, under a bill that advanced Wednesday in the Legislature. via The Ledger


Florida Communities Trust move protest

Contributed by Tom Palmer - Posted: March 31, 2008 11:45:29 AM 1000 Friends of Florida is raising alarms about the planned transfer of the Florida Communities Trust program from the Florida Department of ... via The Ledger


Challenger Says the City Needs to Curb Spending

"It's going to take a long time"

Anne Wardlaw Dickinson said she decided to run for the City Council when she learned in an audit report that the city had not been reconciling bank statements or balancing its books on a regular basis. via The Ledger


Polk Had Fewer Jobs, More Jobless in February than Year Ago

Polk County's unemployment rate dipped in February but conditions in the job market continued to deteriorate from year-ago levels. via The Ledger


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