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Camden, IN Divorce Buyout in Indiana
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 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
| Camden, Indiana News |
Free Camden dinner raises money
A Carroll County restaurant opened its doors to customers today in hopes of raising enough money to help feed families in need for Christmas.
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Benefit slated to help womana s recovery
Two Carroll County churches are planning a benefit for the family of Cindy Gottschalk.
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Improving their lives
When Ken Lavy of Camden met Marian Cortez in a trip to Honduras three years ago, his life changed forever.
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A new home
"The predictions are in the next decade, there will be 9 million children in foster care. It makes it critical that we recruit very loving, compassionate, skilled foster parents." Marianne and Steve Berkshire adopted Rachel, now 2, last month. As soon as she was born, Rachel had been placed into foster care with Marianne's sister in Lafayette. via Pharos-Tribune
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Selling homes
"I can show any property no matter who has it listed" For Barb Drye, working in an office with several other people doing the same job sometimes means competition. via Pharos-Tribune
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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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