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Alamo, GA Divorce Buyout in Georgia

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 Georgia, 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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Last Update: 3/18/2008 6:32:38 PM Author: Kate Harrison Web Editor: Bernie O'Donnell The Alamo Police Department wants your help to find two men they say ran away from a traffic stop this weekend. via 13WMAZ-TV

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Last Update: 12/16/2007 12:43:59 AM Web Editor: Jovi Irwin In the past few weeks... some elected officials throughout Central Georgia have moved into their new offices and begun serving the public. via 13WMAZ-TV

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