Addison, MI Divorce Buyout in Michigan
Since 1979 Somerset Mortgage Lenders Co. has been considered a leader in the residential mortgage lending business and is currently licensed in 26 states, including Michigan, 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 MI
| Addison, Michigan News |
Minuscule beetles planted in lake to fight against weeds
Tiffany Bell, of Kalamazoo, holds her daughters Ivory Gray, 4, and Jada Gray, 1, as Jada gets playful with her sister Friday during the Black Arts Festival.
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Minuscule beetles planted in lake to fight against weeds
Tiffany Bell, of Kalamazoo, holds her daughters Ivory Gray, 4, and Jada Gray, 1, as Jada gets playful with her sister Friday during the Black Arts Festival.
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Minuscule beetles planted in lake to fight against weeds
Tiffany Bell, of Kalamazoo, holds her daughters Ivory Gray, 4, and Jada Gray, 1, as Jada gets playful with her sister Friday during the Black Arts Festival.
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Minuscule beetles planted in lake to fight against weeds
Tiffany Bell, of Kalamazoo, holds her daughters Ivory Gray, 4, and Jada Gray, 1, as Jada gets playful with her sister Friday during the Black Arts Festival.
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Minuscule beetles planted in lake to fight against weeds
Tiffany Bell, of Kalamazoo, holds her daughters Ivory Gray, 4, and Jada Gray, 1, as Jada gets playful with her sister Friday during the Black Arts Festival.
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Minuscule beetles planted in lake to fight against weeds
Tiffany Bell, of Kalamazoo, holds her daughters Ivory Gray, 4, and Jada Gray, 1, as Jada gets playful with her sister Friday during the Black Arts Festival.
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Minuscule beetles planted in lake to fight against weeds
Tiffany Bell, of Kalamazoo, holds her daughters Ivory Gray, 4, and Jada Gray, 1, as Jada gets playful with her sister Friday during the Black Arts Festival.
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Minuscule beetles planted in lake to fight against weeds
Tiffany Bell, of Kalamazoo, holds her daughters Ivory Gray, 4, and Jada Gray, 1, as Jada gets playful with her sister Friday during the Black Arts Festival.
|
Minuscule beetles planted in lake to fight against weeds
Tiffany Bell, of Kalamazoo, holds her daughters Ivory Gray, 4, and Jada Gray, 1, as Jada gets playful with her sister Friday during the Black Arts Festival.
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Minuscule beetles planted in lake to fight against weeds
Tiffany Bell, of Kalamazoo, holds her daughters Ivory Gray, 4, and Jada Gray, 1, as Jada gets playful with her sister Friday during the Black Arts Festival.
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Funnel clouds, down power lines in area
Funnel clouds were spotted in Lucas and Ottawa counties during a severe thunderstorm last night that packed winds of up to 54 miles per hour and knocked out power to about 5,700 electric customers in northwest ...
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Themed wedding has special meaning for bride and groom
As a Somerset Township fire truck pulled into the Addison Fire Station with its lights swirling, a not-so-typical passenger climbed out.
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Wrestlers to hit mats in Hartland
Hartland High School seems a rather fitting place to begin a new wrestling tradition in Michigan.
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Grant-Ball offered 'super' spot in Addison
EATON RAPIDS - Lockwood Principal Eileen Grant-Ball will likely be leaving the district sometime this month for a superintendent position with Addison Community Schools.
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Huron Schools begins strategic plan process
"You need a plan, but first you get together and gather data. You look at your present needs and (vision) for the future." Like many others on the steering committee, Alice Ferguson is thrilled about Huron Schools writing a strategic plan for the next three to five years of growth. via Monroe Evening News/Monroe Sunday News
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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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