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Addison, ME Divorce Buyout in Maine

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 Maine, 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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Addison, Maine News
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Despite some rain, the second annual Harrington-Addison art tour on Friday and Saturday was nearly as successful as last year, drawing close to 200 people from throughout Maine and as far away as Boston, New ...


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A search is under way on the Saco River for a missing boy. The Coast Guard said the 12-year-old fell into the river near Water Street in Saco at about 12:30 p.m. Saturday. via WMTW-TV Auburn


News Alert - Senate Agrees With The House, Approves Real Id Bill

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A bill that will require all applicants to produce papers showing they are in this country legally in order to get a Maine driver's license is ready to be signed into law after it passed the Senate Thursday in ... via Lincoln County News


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Like art over centuries, common American folk art is now so uncommon that only those on the Bush tax rebate list can afford it. via Village Soup


Baldacci Proposal Offers To Comply With Federal Real Id Law

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The Baldacci administration released proposed legislation Monday that would put the state in compliance with the federal REAL ID law for a cost of between $2 and $3 million - a plan leading Democrats say ... via Lincoln County News


Circuit Court Denies State Appeal Of Electricity Charge

A federal appeals court has upheld a temporary payment system for regional electric power generators, a ruling that Maine regulators say will cost the state's consumers $300 million by 2010. via WMTW-TV Auburn


Plan To End War

"We need to elect a new Congress that will stand up and be accountable because our survival as a nation is at stake"

Chellie Pingree, a candidate for the U.S. Senate, has joined leading progressive candidates for Congress like Darcy Burner from Washington and Donna Edwards from Maryland in releasing a comprehensive plan to ... via Wiscasset Newspaper


What Will It Take To Strengthen Maine's Economy?

Is it possible for Maine to have a strong economy, with good paying jobs? An economic development consultant from Washington says it is, but it will require people and businesses to make some tough choices. via WLBZ


Maine Supreme Court asked to reconsider Washington case

"LAW failed to prove that the Planning Board violated its due process rights."

WASHINGTON : The Land Association of Washington, a group of town residents, has asked the Maine Supreme Court to reconsider its recent decision on a case involving Lane Construction Company, suggesting the ... via Village Soup


100 years ago, 1908

Although the ground is covered with snow deeper than at any time during the winter, the spring migration of birds is at hand. via Sun-Journal


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DA, Baldacci recall Povich with humor

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More than 200 people gathered Wednesday morning at a local funeral home to remember the life of local storekeeper and former state Rep. via Bangor Daily News


Senator Snowe Visits Bethel Snowwoman

Maine's senior senator visited Bethel and got her first look at the world's tallest snowwoman that bears her name. via WLBZ


Looking back

An urgent plea for pure food in the household was made today by Dr. Harvey W. Wiley, chief of the Bureau of Chemistry of the Department of Agriculture. via Sun-Journal


Rallies to mark fifth year of war in Iraq

"Not one more death! Not one more dollar!"

Organizers in all 16 counties have coordinated events in support of the Iraqi Veterans Against the War, who will gather in the Washington, D.C., area beginning today for four days of "testimony" against the war ... via Bangor Daily News


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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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