West Farmington, 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
| West Farmington, Maine News |
Woman safe as car's nose dips into stream
A Farmington woman was uninjured after she lost control of her car on Lucy Knowles Road and it went over an embankment and nose first into a stream, Farmington police officer Michael Adcock said.
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Board gives property owner deadlines for code compliance
The Board of Selectmen agreed unanimously Tuesday to give a West Farmington property owner 30 days to devise a plan of action for his property and 60 days to complete the work.
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Board considers warrant for special town meeting
Selectmen will review the warrant for a special town meeting at 6:30 p.m. Tuesday at the town office.
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Yeaton's photos on display at Farmington Fair
Scores of pictures taken by longtime freelance photographer Barbara Niles Yeaton, who chronicled life in Franklin County for decades, will be displayed at the Farmington Fair next week.
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Turner makes final cut
Junior Turner cut his last head of hair Friday before turning the keys to Turner's Tendercuts over to the new owner, Heidi Boyce of Farmington.
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Farmington couple partners in marriage and business
Every day, Jon and Lois Bubier have a date to meet for lunch and another to meet for supper.
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Mary Wright bench dedicated in Walton's Mill Pond Park
A woman remembered as an activist, civic leader, matriarch and friend now has a bench in her memory in a place she loved, Walton's Mill Pond Park in West Farmington.
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Communication base approved
Franklin County commissioners voted Tuesday to let the third floor of the county courthouse be used as an emergency communications amateur radio base.
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Franklin area arrest log
The following were recently booked at the Franklin County Detention Center: Michael J. Lewis, 21, Windham, warrant: escape, criminal mischief, criminal trespass, violation of bail, terrorizing, disorderly ... via Sun-Journal
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Volunteers ready for book sale
"It's a preventive measure against illiteracy. Some students need the extra one-on-one effort but then we don't have to worry about them becoming an adult who's ashamed because they can't read" Hoisting boxes filled with used books and working quickly, Foster Tech students raced Thursday to empty a truck to help Literacy Volunteers prepare for the annual used book sale. 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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"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
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