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Reverse Mortgage
Divorce Buyouts
Debt Consolidation
Home Improvement
Purchase
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Monticello, 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
| Monticello, Maine News |
Reverend "Jack" Fancy
The Truro Daily News Surrounded by his loving family on Sunday, Nov. 9, 2008, the Reverend "Jack" Fancy, husband of Pauline Fancy, of Quispamsis, N.B. went to be with his Lord.
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Fatal Car Accident
Presque Isle police responded to a the scene of a fatal motor vehicle accident this morning at the intersection of the Centerline Road and Route 10.
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Monticello woman dies in collision
A Monticello woman was pronounced dead at the scene of an accident Wednesday morning after failing to stop at a stop sign in Presque Isle.
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Transmission Line Update
Two of Maine's electric companies are moving ahead with a more detailed analysis of a power line connecting Maine Public Service Company with the rest of the New England power grid. via WAGM TV
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APP Donation
With a pledge of fifty thousand dollars, F. A. Peabody Company announced that it is recommitting its financial investment in the Aroostook Partnership for Progress. via WAGM TV
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State road repair priority criticized
"The state is lacking in support for the local community whether it is schools or roads, the people in the state of Maine are getting the short end of the stick" Residents and travelers of the Pretty Marsh Road have noticed that its east end has not come through the winter unscathed. via Mount Desert Islander
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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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