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Divorce Buyouts
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Mount Vernon, 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
| Mount Vernon, Maine News |
November 22, 2008
Four shows in four weeks arrrrrrgggghhhhh! We made it. I'd also like to say that photographer/editor Josh Bradford did a splendid job editing this show.
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A head-on collision killed two Maine Maritime Academy students and injured another man on Sunday morning.
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Shotgun greets Maine metal thieves
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Gardiner opens Farmers' Market on the Common
' The new Gardiner Farmers' Market on the Gardiner Common officially opened Wednesday.
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Tomato Growing Tips
Get your tomato plants off to a healthy start with these smart suggestions. Plant deep.
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Maine's Secret Places
"Down East magazine has ruined my summer" A few weeks ago George Smith, executive director of the Sportsman's Alliance of Maine and a columnist for the daily Kennebec Journal in Augusta, wrote a column bemoaning an article in Down East that focused on ... via Down East
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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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