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Andover, 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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Andover, Maine News
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Oxford County arrest log

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The last person indicted in connection with a River Valley crime spree in December entered a plea in Oxford County Superior Court on Friday.


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The Telstar 1 communication satellite was launched from Cape Canaveral, Florida on July 10, 1962, ushering in the modern age of intercontinental broadcasting and telecommunication.


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A large old log cabin at the southern end of Lower Richardson Lake was gutted by flames Thursday night, Assistant Chief Rob Dixon of the Andover Fire Department said.


Moose Collisions In Northern, Western Maine

Motorists in northern and western Maine are breathing sighs of relief after escaping serious injury when their vehicles struck moose along the state's roadways.


Author/artist to sign first boo

Local author/artist and businesswoman Cynthia L. Thibodeau will be at Books N Things from 11 a.m. to 2 p.m. Saturday, June 21, to sign copies of her first book, "Menagerie In Sync: A Collection of Poetic Art." ...


George W. Wilson II

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Whatzit? Whatzit? Whatzit?

Remember this photo of a "What is it"? The photo was taken by Milt Inman at the Andover, Maine Historical Society. via Black Bear Blog


Opponents of Med-Care cite long-term debt plan

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Opposition to Med-Care Ambulance Service's second 10-year extension to its 1988 agreement with its 11-member towns continues to stream out of Andover and Rumford. via Sun-Journal


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About 70 people attending Tuesday night's selectmen meeting were audibly dismayed to learn about two recent security breaches when personal information about hundreds of residents and 49 employees was released. via Sun-Journal


Flood watch in effect from late tonight through Wednesday morning

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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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