Somerset Mortgage Lenders Mortgage Refinance, Reverse Mortage, Home Loan
  Reverse Mortgage Divorce Buyouts Debt Consolidation Home Improvement Purchase Refinance
Search Somerset:
Print this page    E-mail this page

Auburn, 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.

Return to divorce buyout in the state of ME

Bad Credit? click here.

Call for COMPLETE details NOW!

(800) 675-9783

Auburn, Maine News
Democratic, GOP leaders say Poulin should step aside

If Helen Poulin wants to represent Lewiston on the Androscoggin County Commission, she ought to live in Lewiston, Democratic and Republican leaders said Tuesday.


DA gets bill after jury sent packing

A judge ordered the local district attorney's office to foot the $174.65 bill for a dismissed jury because the prosecutor was not prepared to go to trial and dropped the charge.


Auburn Man Attacked With Machete

An Auburn man is in jail after police said he attacked a former co-worker. Police were called to Morton Builder's on Minot Avenue Friday afternoon for a reported assault.


AT&T Plans to Invest More Than $15 Million This Year in the Maine Wireless Network

AT&T Inc. has announced a planned investment of more than $15 million in the Maine wireless network in 2008, which marks the largest investment since 2005 and will bring the planned four-year state investment ...


Group bails out Steve & Barry's

Retailers expect to get word next week about which Steve & Barry's stores will close, following a bankruptcy buyout of the troubled apparel store by a hedge fund.


Prosecution drops OUI charge against Auburn police officer

Prosecutors dropped a drunken driving charge Monday against local police officer Mitchell Sweetser, shortly before his trial was set to get under way.


Quiz du jour

His acting namesake is credited on the Internet Movie Database as having one single bit part described as: a) Judge in 1990's "The End of Innocence" b) Gum Chewer in 1974's "Blazing Saddles" c) Derelict in ...


Maine bell traced to Paul Revere

A bell housed in the tower of an old church on an Auburn lot has a connection to Paul Revere's brass and bronze foundry in Boston.


Verdict Reached In Former Teacher Trial

A jury in Auburn has convicted former Auburn teacher James Raymond on 2 counts of sexual touching and 3 counts of assault involving three former students.


Hints of impropriety besmirch Auburn board

The recent account in the newspaper concerning the Auburn selectmen's meeting of Aug.


Auburn police test out Segways

Gliding through the city at a brisk 12 mph, standing tall and going places no cruiser can go, Auburn police are one step closer to the reality of Robocop.


Cleanup Begins In Minot

Route 119 is now back open from Route 121 to Bradbury Hill Road, but a number of other roads remain closed.


'Marilyn's Man' lands itself in Maine court

Who is the good guy and who is the bad guy in a battle over a film made locally depends upon whom you ask.


Skowhegan's Greg Dore to lead Maine transportation group...

Gregory A. Dore has been elected president of the Maine Better Transportation Association.


Fire hits Auburn building

A 2½-story apartment house at 85 Summer St. was heavily damaged by fire early Wednesday morning.


Maine movie maker must repay $500 K

A judge who says "substantial fraud" was proven is ordering a Marilyn Monroe documentary producer to repay more than $500,000 to the star's first husband's family and to investors in the movie.


California Style Furniture in Manhattan

Pasadena Living is a new collection in the Manhattan showroom of Thos. Moser, a company known for its heirloom quality, hand-crafted wood furniture.


Auburn Jail Brawl Brings Charges

Officials said a brawl that broke out during a behind-the-bars religious service in the Androscoggin County Jail may result in additional charges.


Magic in the park

Christopher Spofford, 5, left, of Auburn can't believe what he is seeing at the Lewiston Multi-Purpose Center in Lewiston during Wednesday morning's Magical Wonders performance by Dennis Labbe.


KICTeam Develops New Check Scanner Cleaning Product For Epson's CaptureOne Check Scanner ...

Card Extends Life of Scanner Used in Financial Services and Retail Industries AUBURN, Maine-August 4, 2008-KICTeam, the industry leader in the manufacture of cleaning cards, is pleased to announce that the ...


Save time with our easy online mortgage application.
With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
 
"Every other company said they could not help us. After speaking to about five companies, we really believed that no one could. Then we called Somerset, and your company proved us and those other companies wrong. We can't thank you enough for all your hard work and effort in getting us a low fixed rate. We can now breathe easier..." - L. Braun
© 2006 Somerset Investors Corp. All rights reserved.
home | about us | Mortgage Blog | contact us | privacy policy | state licensing | search | links | link to us | site map
mortgage calculators | refinance | purchase | fha | reverse mortgage | divorce buyout | debt consolidation
Eqaul Housing Lender Member of the Better Business Bureau (BBB) Member of the National Reverse Mortgage Lenders Association (NRMLA)