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Milton, 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.

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Milton, Indiana News
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Marshal: Firefighter responded intoxicated

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Former resident selected to join Byrd expedition to South Pole

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A grill, a lawn mower and a tomato plant all lay smashed Monday beneath the weighty limbs of a silver maple tree in Vickie Mofield's lawn.

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Local power companies have restored power to thousands in Wayne County by this morning, but many in Preble County remain in the dark.

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Cox Anniversary

Ralph E. & Edna L. Cox of Centerville, IN were married on Sept. 13, 1948, by Rev.

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Celebrating Milton Days

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'Island Paradise' in western Wayne Co.

MILTON, Ind. -- Milton becomes an 'Island Paradise' for the annual Milton Days community festival Saturday and Sunday.

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