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Avon, 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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Avon, Indiana News
Avon officials discuss bridge options

Town council members here are discussing funding options now that the Indiana Department of Transportation has announced that it is not interested in swapping State Road 267 for the Ronald Reagan Parkway.


Designing Avon's heart, core

Avon wants to create a new community gateway by fostering a pedestrian-friendly, people-centered area at the intersection of Ind.


Service will honor Cambridge man, 2 others killed in helicopter crash

RUSHVILLE, Ind. - Air Evac Lifeteam will hold a public memorial service at 1 p.m. Saturday for the Rushville crew members who were killed Sunday in the crash near Burney, Ind.


Avon's Beard makes Top Alcohol debut

Avon's Zach Beard had never raced a Top Alcohol dragster in National Hot Rod Association competition until the 54th Mac Tools U.S. Nationals.


Repair work on Avon police building begins

After almost a year's delay due to structural deficiencies, the new Avon police headquarters could be ready for occupancy within a month.


Accident involving a train and truck causes closure

Avon- An accident involving a truck carrying jet fuel and a train has State Road 267 closed south of US 36 and county road 100 South.


Central Indiana hangs on to summer

This Labor Day, visitors at the Indianapolis Zoo had one last chance to see this year's star attraction: the koalas.


S.R. 267 opens after tanker flips

A major road in Avon is open again after a fuel spill caused massive problems Thursday morning.


Fuel tanker over turns in Avon

A semi tractor-trailer loaded with jet fuel overturned this morning in Avon near a railroad crossing.


Small businesses can get help from new SCORE office in Avon

Even before the new SCORE office opened officially this week in Hendricks County, counselor Joe Lamble got pleas for advice from potential small-business owners.


Schools evacuated after jet fuel spill at tracks

With seven buildings within a half-mile of the CSX rail yards, Avon Schools officials knew their emergency evacuation plans might someday be put to the test.


Jailed teen now faces murder charges

An Indianapolis teenager already in jail on robbery is now arrested for murder. Police arrested Terrell Wallace overnight in connection for the murder of Clois Goldsmith.


Jet fuel tanker overturns in Avon

A semi tractor-trailer loaded with jet fuel overturned this morning in Avon near a railroad crossing.


Schools evacuate after tanker flips

Several Avon schools were evacuated as a precaution Thursday morning, after a tanker truck flipped over in the area.


Truck spills jet fuel near schools in Avon

Two schools in suburban Indianapolis have been evacuated as a precaution as crews clean up a spill of jet fuel after a tanker truck tipped over on its side.


$4 million project could begin in April

Work on Avon's second roundabout could begin in the spring. The Town Council last week approved a $384,026.88 contract for Crossroad Engineers to study a planned roundabout site at Dan Jones Road and County ...


SAT scores drop in most west suburban schools

All but two Hendricks and western Marion county schools encountered decreases in SAT scores compared to last year.


S.R. 267 and U.S. 36 Gateway Plan in action

The Town of Avon recently approved the State Road 267 and U.S. 36 Gateway Plan and is seeking assistance.


Mooresville boys win Decatur Township firefighting competition

During Mr. Frye's Science and Technology camp, we learned science and mathematics while studying firefighting, past and present.


Half Price Books opens new store in Avon today

Half Price Books will open a new store today at 9867 E. U.S. 36 in Avon in the Gables of Avon shopping center.


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