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Silver Lake, 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
| Silver Lake, Indiana News |
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Asleep at the wheel, man hits pole, tree
SILVER LAKE, Ind. According to a Kosciusko County police report, Ryan Sparks, 22, fell asleep at the wheel of his car around 8:00 a.m. Friday morning, and sent his 1997 Cadillac Fleetwood off the road, hitting ...
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Man survives collision with bus
A Silver Lake resident suffered only minor head injuries after his car went nearly all the way under a school bus that he hit at a right angle Wednesday morning in Kosciusko County.
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3 arrested in early morning car theft
The Kosciusko County Sheriff's Department arrested three suspects Wednesday involved with an early morning theft.
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Conservation officers chase Kosciusko County man
A Kosciusko County man is in jail after running from State Conservation officers.
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Possum Dixon: New Sheets
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IN: Indiana Meth Trafficker Sentenced
"The distribution of methamphetamine is the distribution of poison" Edward N. Schafer, 29, Silver Lake, Indiana, was sentenced to 120 months imprisonment late yesterday by U.S. District Judge Larry J. McKinney. via Usdoj.gov
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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 prayed day and night for a miracle...In less than a week, (Somerset) was able to stop the foreclosure and get a new mortgage for me. It was the best of times...I have Somerset Mortgage Lenders to thank until eternity for the miracle they were able to make come true." - Diane B.
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