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Alfred, ME Divorce Buyout in Maine

Since 1979 Somerset Mortgage Lenders 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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Alfred, Maine News
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Is gasoline more expensive in Sanford than in other southern Maine towns? Some local motorists think so, and according to the Sanford News' informal survey of area service stations, they're right.

Lebanon man killed in Acton rollover

A Lebanon man was killed in a rollover on Milton Mills Road in Acton on Sunday night.

Maine cement truck crash kills 2

Police say a New Hampshire man and his mother were killed in a car crash in Alfred, Maine.

Driver Killed In Alfred Car Crash

One person is dead and another injured after the car they were riding in crossed the center line and hit a concrete truck on Route 111 in Alfred Thursday afternoon.

Kennebunk police log

Kristen Gouveia, 23, of Hampton, N. H., was charged with operating a motor vehicle without a license.

Double dose of dancing Lewiston Public Library will host a contra...

People of all ages will have a chance to shake a leg at the Lewiston Public Library this weekend, courtesy of two community folk dance events in Callahan Hall.

A year later, woman's killer unknown

Kelly Gorham was last seen alive one year ago today. Friends and family wondered for days what happened to the 30-year-old nursing student from Alfred, Maine.

President Bush arrives in Maine for the weekend

Over the years, Mackenzie Rowe has stood in her driveway on Route 99 and waved as President Bush passed through in his motorcade on his way to his parents' seaside home in Kennebunkport.

Suspect in negligent homicide allegedly drives car in pond

LEBANON : Maine State Police this morning arrested a Rochester, N.H. man after his car was found submerged in a swamp off the Center Road in Lebanon.

Naomi (Nunan) Burns

Naomi Burns, 75, died Monday, July 7, 2008, after a short illness and is at peace with the Lord.

Shelter programs trying to save money, go green

The York County Shelter Programs has formed a Green Team to address the soaring prices of energy for their Shelter and all their twenty-four housing units for previously homeless individuals and families.

Collins receives St. George Award

Dr. Thomas Collins received the American Cancer Society's St. George National Award from Andrew Prescott, President of the New England Board of Directors.

The Observer: Homelessness affects us all

It is said that "home is where the heart is," but where is the heart if there is no home? The experience of being homeless is hard for most of us to understand, but it is all too familiar to many.

Bartlett Pleads Not Guilty To Crash Charges

A Wells woman accused of causing a wrong-way crash on the Maine Turnpike has pleaded not guilty to 15 charges, including two counts of manslaughter and aggravated operating under the influence.

Kennebunk area calendar of events

The calendar is a compilation of events by local organizations, businesses or individuals.

Habitat for Humanity eyes Hemlock Avenue site for affordable home

There is a new house on a tree-lined road in Alfred, a small community in York County.

Sanford embraces native son Cote at polls

If it were up to voters in Sanford and its neighboring towns, Adam Cote would be the Democratic Party's candidate in the race for Maine's District 1 seat in the U.S. House of Representatives in November.

Habitat group helps Hollands

The Holland children play in their yard - a car repair lot along Alfred's busy Route 4. Their father, Troy, watches diligently as they kick up dust.

South Berwick woman turns self in on burglary charge

A local woman was arrested for the third time in as many months when she turned herself into police last week in connection with a November break-in. Jamie L. Achilles, 31, of 21 High St., was charged with ...

Blaze scorches 5 acres off Hanson Ridge Road in Springvale

Memorial Day proved a hot one in more ways than the weather - a fire ripped through five acres of forest off Hanson's Ridge Road.

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