Greenwood, 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.
Return to divorce buyout in the state of ME
| Greenwood, Maine News |
Three charged in Oxford County cocaine bust
An investigation into a double homicide this summer helped lead to the arrests of three people on drug trafficking charges Friday, officials said.
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Women, Work, and Community to honor regional champions...
Women, Work and Community to honor regional champions LEWISTON, ME - October 29, 2008 - Maine Centers for Women, Work & Community will honor four regional champions at one of its year-long thirtieth anniversary ...
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Supper, auction, dance planned to fund grandstand foundation
Fundraising efforts to replace the burned wooden grandstand at the Harold C. Perham Athletic Complex on High Street are continuing with a public supper next month.
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landing party
Granddad and Margaret in the canoe, and Mom and Jack in the kayak, approach the big rock in the middle of North Pond, Locke Mills/Greenwood, Maine.
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Fire destroys unoccupied house
An unoccupied house in a remote area of town was destroyed by fire shortly after midnight Wednesday.
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Storm Damage Reported In Southern, Central Maine
Thursday's string of storms has left some damage in Maine. Officials in York County said the towns of Cornish and Parsonsfield have trees and wires down.
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State land trust gives $251,000 to preserve outcropping
Efforts to conserve 644 acres of woodland got a big boost this week. The Land For Maine's Future Board allocated $251,000 to the Mahoosuc Land Trust toward the purchase of Buck's Ledge, which includes Lapham ...
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Tri-Town workers threaten walkout
Citing lack of faith and trust in their directors, Tri-Town Rescue Service employees said Monday night that they will resign from their jobs if major changes are not made in the operation of the rescue service.
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Tri-Town Rescue announces reorganization
The attorney for Tri-Town Rescue Service Board of Directors said Friday that a major reorganization of the service, including the removal of Chief Norman St.
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Towns hash out fire squad problems
"A great number of residents in our town don't have a say in their own public safety" Officials from several Oxford County towns and fire departments acknowledged Wednesday night that the ranks of volunteer firefighters are decreasing, in part, because of required training and daytime employment ... via Sun-Journal
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Bethel man injured in rollover
"They hit a culvert and launched into air. She was sleeping" A Bethel man was seriously injured early Friday morning when his pickup truck apparently hit a culvert and flipped over on its side on Route 26. via Sun-Journal
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Commissioners hear emergency concerns
"Any one of those towns voting 'no' could result in the inter-local agreement being dissolved" Emergencies were at the forefront Tuesday as Oxford County commissioners heard discussions of fire and ambulance coverage in the county. via Sun-Journal
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With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
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"I prayed day and night for a miracle...In less than a week, (Somerset) was able to stop the foreclosure and get a new mortgage for me. It was the best of times...I have Somerset Mortgage Lenders to thank until eternity for the miracle they were able to make come true." - Diane B.
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