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Alexandria, IN Divorce Buyout in Indiana

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 Indiana, 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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Alexandria, Indiana News
Oak Ridge Boys coming to Hoosier Park

Last month at the Madison County 4-H Fair, concertgoers to the Woody Wright & Friends show were treated to the thrill of a lifetime.


: City Council approves COIT

In a unanimous vote, the Anderson City Council approved a resolution to increase a countywide income tax.


County 4-H baker honored for Candyland cake

During opening ceremonies at the 2008 Indiana State Fair, Madison County 4-H member, Jessica Means, of Frankton, was honored by receiving the Best of Show 4-H Exhibit Hall Project Award for her "Candyland" cake ...


: Indy man injured in cycle crash on Ind. 28

An Indianapolis man was seriously injured Wednesday after losing control of his motorcycle along Indiana 28.


: Alexandria board mulls meeting change

The Alexandria-Monroe School Board could soon begin meeting on a different day of the week.


Aug. 7: Local Births

A boy to Michel A. and Jennifer Johnson, Anderson, Aug. 1. A boy to India Starr Jones and Jason Abbott, Middletown, Aug.


Monday's Delaware County arrest log

MUNCIE - Law enforcement agencies in Muncie and Delaware County jailed 12 people Monday.


Severe thunderstorm warnings issued for Delaware, Madison, Randolph counties

MUNCIE - The National Weather Service has issued a severe thunderstorm warning for western Delaware and northeastern Madison County until 10:30 p.m. Friday.


July 31: Local Births

A boy to Santa Cruz Montano and Godinec Fausto, Anderson, July 28. A boy to Darrell and Kelli McLemore, Greenwood, July 29.


: 4-H Fair ends on high note

Adios, elephant ears. So long, corn dogs. Happy trails, giant pork tenderloins. It will be another year before we meet again at the fairgrounds.


July 26: Class reunions

AMHS Class of 1978 scheduled The Alexandria class of 1978 is hosting its 30-year reunion with activities on Aug.


THB starts new series on Aug. 4

Beginning Monday, Aug. 4, The Herald Bulletin will launch a new weekly series called On Your Street.


July 26: Jottings

Fitz family hosts foreign exchange student The Rick and Laura Fitz family of Anderson will welcome a new "son" into their home for the 2008-09 academic year.


July 24: Arrest Log

She has since been released. * Anderson police arrested Danny Lee Allen, 43, of the 2800 block of Crystal Street, Anderson, at 10:43 p.m. Wednesday in the 3000 block of Main Street on suspicion of public ...


July 24: Arrest Log

She has since been released. * Anderson police arrested Danny Lee Allen, 43, of the 2800 block of Crystal Street, Anderson, at 10:43 p.m. Wednesday in the 3000 block of Main Street on suspicion of public ...


: 4-H'ers learn life lessons in caring for animals

Each morning, Rebekah Payne and her brothers wake up at 7 a.m. to feed their chickens, cows and pigs.


: Queen crowned at Mad. Co. 4-H Fair

Amy May reacts as it is announced that she is the 2008 Madison County Fair Queen.


Thumbs up, thumbs down

Thumbs up: To all the beautiful flowers planted in downtown Anderson. Take time to read the signs of the individuals or groups who have committed to their planting and weeding this summer.


July 20: Arrest Log

No bond is set. * Anderson police arrested Jacob L. Hankla, 19, of the 2300 block of Dove Street, Anderson, at 2 a.m. Sunday in the 2400 block of 53rd Street on suspicion of possession of marijuana, a Class A ...


EDITORIAL: Fair culminates commitment of local 4-H members

From Sunday afternoon's parade to Saturday evening's talent show, the Madison County 4-H Fair at the fairgrounds in Alexandria offers a smorgasbord of learning, entertainment and gastronomical options.


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