Auburn, 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.
Return to divorce buyout in the state of IN
| Auburn, Indiana News |
Man, I heel like a woman
Mayor Tom Henry walks with other men during Saturday's event at Headwaters Park sponsored by the Fort Wayne Women's Bureau.
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115 mph motorcycle crashes
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Man trapped in silo
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Officers arrest three
Three people were incarcerated in the DeKalb County Jail early this morning, according to jail reports.
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Nucor acquires Indiana-based Ambassador Steel for $185 million
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Officers arrest three
Three people were incarcerated in the DeKalb County Jail Wednesday and early today, according to jail reports.
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Man runs over pedestrian near Auburn
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Officers arrest three
Three people were incarcerated in the DeKalb County Jail Tuesday and early today, according to jail reports.
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Community Bulletin
Information for Community Bulletin MUST BE SUBMITTED AT LEAST TWO WEEKS PRIOR TO DATE OF EVENT to be considered for publication.
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Subscriber-only extra! More AMPS 2008 coverage
FSM attended the Armor Modeling and Preservation Society's annual convention April 11-12, 2008, at the World War II Victory Museum in Auburn, Indiana.
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Famed cookies rich in fruit flavor
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Officers arrest four
Four people were incarcerated in the DeKalb County Jail Tuesday and early today.
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Officers arrest three
Three people were incarcerated in the DeKalb County Jail Monday, according to jail reports.
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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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"...I was sure that Somerset was the right choice...they couldn't have been more compassionate or understanding...I just couldn't believe that this all happened within a week...Thanks to my loan officer and all the rest of those great people at Somerset, my family will be able to stay in the only home they have known for some time, without fear of being put out." - Tom N.
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