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Oquossoc, 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
| Oquossoc, Maine News |
Height of Land overlook gets funds for work
The popular Height of Land overlook on Route 17 between Oquossoc and Byron will get a makeover next year, thanks to $270,762 in federal highway funds.
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Retired doctor remembered for aiding area
A retired doctor was remembered Monday for his contributions to conserving characteristics of the Rangeley region - mountain views, hiking trails, clear lakes and rivers - for future generations.
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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.
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Oquossoc man to head Rangeley police
A retired Philadelphia police lieutenant who's now an Oquossoc resident has been hired as interim police chief to replace Phil Weymouth, who has taken a job as chief of the Fryeburg Police Department.
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Oquossoc to celebrate heritage
Oquossoc Heritage Day will feature a boat parade, fly-over and dance among other highlights on Saturday.
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Historian to detail 'Fly Rod' Crosby's role with church
Maine state historian Earle G. Shettleworth Jr. will visit an Oquossoc church Tuesday to give a talk on Cornelia "Fly Rod" Crosby, the woman who worked hard and inspired others to build Our Lady of the Lake.
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Our Seasonal Guides
From our Seasonal Guides Cool Mountain Places Looking down Moxie Falls Most of these Unique Natural Areas are less than an hour drive from the anywhere in Northern Franklin County, making them perfect for a ...
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Two hurt as moose, car collide
"The summer months through the early fall moose are found everywhere, especially tar roads to get away from bugs and heat, and to lick salt and calcium deposits off the road." Two people were injured when the car they were riding in collided with a moose on Route 4 on Wednesday night. 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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"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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