Hopedale, MA Divorce Buyout in Massachusetts
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 Massachusetts, 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 MA
| Hopedale, Massachusetts News |
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Police Report: Police reports from Amherst and area towns.
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Regional digest
Horse struck, killed in truck collision SPENCER -- An 18-year-old horse named Sampson, on the loose after escaping from its owners, was struck and killed by a passing motorist last night.
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Bites:
After 55 years in business, Rom's Restaurant of Sturbridge closes its doors this month.
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Boat burns to water on Webster Lake
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Tax Collections Go High-Tech
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UTC acquires Mass. sprinkler firm
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The Worcester County town of Mendon is running on empty. Since both gas stations in town closed this month, all its residents, police and fire departments are leaving town to fill-up. "It's unbelievable, you ...
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Mendon Runs On Empy As Gas Stations Close
The Worcester County town of Mendon is running on empty. Since both gas stations in town closed this month, all its residents, police and fire departments are leaving town to fill-up. "It's unbelievable, you ...
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Common Voices
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Krauss, Riley spark Schwartz
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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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"Our family would like to thank Somerset Mortgage Lenders for getting us out of foreclosure. Without your help we do not know what would have become of our family. When we first called, we were in Chapter 13 bankruptcy...Not only will we now be able to keep our home, but we'll be able to put ourselves on track financially, thanks to all the efforts of the wonderful people at Somerset. We will be forever grateful to you all." - Scott & Amy
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