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Divorce Buyouts
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Glenwood, GA Divorce Buyout in Georgia
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 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.
Return to divorce buyout in the state of GA
| Glenwood, Georgia News |
Lenzo C. Kohn Sr.
A Homegoing service for Lenzo C. Kohn, Sr. will be held 11:00 a.m. Thursday at First Nazareth Baptist Church with interment to follow in Greenlawn Memorial Gardens.
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Event helps people discover worth of yard sale finds, family heirlooms
Floyd Meeks traveled nearly 100 miles to Macon on Saturday to find out if he had a true treasure in some old flags he found in a Dumpster or a small pitcher he bought at a yard sale.
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Revival under way at Mount Moriah
Hundreds of people are gathering this week for a summer revival in the tabernacle of Mount Moriah Campground in Matthews, Ga., near Wrens.
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Alamo teen killed in ATV, vehicle accident
An Alamo teenager was killed Saturday evening in Wheeler County when the four-wheel ATV he was riding collided with a Ford Expedition.
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Middle Georgia still cleaning up after storms
"Like in China. I'm alive. All my family members alive." Tree limbs, roofing shingles and debris remain in the attic of Skip and Gayle Johnson on Wednesday, after four trees crashed through their house on Stapleton Road in Macon. via The Macon Telegraph
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Religious community extends helping hands
"And then we'll go from there to see how we can help." Shannon Back, pastor of Lizzella Baptist Church, cooks hamburgers for power line crews and storm victims Tuesday afternoon. via The Macon Telegraph
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Wheeler Escapee Still At Large
I believe he has left the area, Peacock said, adding that his office has received no calls reporting sightings or with tips on Lovetts whereabouts. via Courier Herald
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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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