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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
School systems vote to consolidate

Officials of school systems based in Bethel and Rangeley, which are 76 miles apart, voted unanimously Thursday night to begin the process of merging.

Last call

Barbara and Elden Hathaway were once asked by Johnny Carson what it was like to have a telephone switchboard in their living room in Bryant Pond.

Pipe organ concert dedicated to parishioner

SEARSPORT : The First Congregational Church in Searsport will present a concert of music for organ and flute at 7 p.m. Saturday, Oct.

Beauty on Main Street: Resident opens new art gallery

Sure, Chris Caraviello is a gallery owner, but he says he is "constantly" sad to see pieces head out the door to their new homes.

Oxford County arrest log

The following arrests were recorded at the Oxford County Jail: Samuel A. Knowlton, 19, of Paris, Sept.

Hammond named top warden

Reggie Hammond of Rangeley makes a living upholding Maine's fish, wildlife and outdoor recreation laws by frequently catching violators off guard.

Oxford County arrest log

The following arrests were recorded at the Oxford County Jail: William Irving Knight Sr., 46, of West Paris, Aug.

Road Trip: The Hills

Usually the b section Road Trip starts with a destination, so I thought it would be a nice change to just do what people once did when gas was cheaper, and just get in the car and go - not having an agenda and ...

Road Trip: The Hills

Usually the b section Road Trip starts with a destination, so I thought it would be a nice change to just do what people once did when gas was cheaper, and just get in the car and go - not having an agenda and ...

Last sentence dealt in River Valley crime spree

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

NASA Telstar 1

The first experimental communications satellite was made in 1960 by John Robinson Pierce of Bell Telephone Laboratories in the United States, who seized the opportunity presented by the planned launching of ...

46 Years of Satellite TV

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.

Flames consume log cabin in Andover

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

George W. Wilson II, died Sunday, April 6, 2008. He was born in Melrose, Mass., and educated at Phillips Academy , Harvard College, and Bentley School of Accounting and Finance. via York Weekly

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

"I don't see why they have to make the towns commit for such a long period of time. There is no mechanism in place with which to cap anything. Whatever they spend, you pay. The whole overall picture doesn't seem to make efficient economic sense to me."

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

Security breach affects hundreds in Andover

"I personally have had a credit card fraud. As am employer, I'm very, very guarded with Social Security information."

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

A Strong Southeast Flow Will Develop Ahead Of This System... Pumping In Abundant Amounts Of Moisture Off The Atlantic Ocean. via The Citizen

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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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