Alanson, 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
| Alanson, Michigan News |
Littlefield students connect with community
As part of the state-funded MSRP , 10 children in the Littlefield School District had the opportunity to attend a summer school readiness program to prepare them for kindergarten in the fall.
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Harbor Springs man killed while riding bicycle
Aug. 21, 2008 : The Emmet County Sheriff's Office is investigating a fatal traffic accident that occurred on Hathaway Road near Kipp Road.
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Weekly is northern Michigan's largest weekly newspaper, distributed in 13 counties throughout the northwestern lower peninsula of Michigan
Ever wonder how area lakes and streams stay stocked with brightly colored trout for area anglers? Stop in at the Michigan Fisheries Visitor Center, located in Oden, just north of Petoskey, and find out.
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Police Chase
Two police officers suffered minor injuries when the driver of a vehicle they were chasing rammed their patrol vehicle early Saturday.
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Tea Table Listing Updated
Births A son, Brady Joseph Lyons , was born to Jon and Christy Lyons of Petoskey at 11:04 p.m. on Aug.
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Men involved in string of break-ins enter guilty plea
In late July, Michael Lee Allred , 23, of Petoskey and Eric Scott May , 21, of Charlevoix each pleaded guilty to two counts of breaking and entering with intent and one count of conducting criminal enterprises ...
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Man charged with attempted murder following run-in with police
A Petoskey man is facing a host of criminal charges including assault with intent to murder in connection with an incident early Saturday in which he allegedly tried to run over two police officers with a car.
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Early morning police pursuit in emmet county ended with one man in jail.
Hide Video Tuscarora Township Police tried to stop a speeding car on M-68 at 2-30 this morning, but the driver kept going.
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Alanson Riverfest Lighted Boat Parade
Whether you are a boater or a landlubber, you won't want to miss the nautical parade of sail and powerboats up the Crooked River.
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Man cited for careless driving in Alanson crash
Two people were injured in a two-vehicle traffic crash in Emmet County's Littlefield Township Thursday.
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Tea Table Listing Updated
Birth A son, Preston Eli Fisher, was born to Tonya Vincent and Eli Fisher of Harbor Springs on July 23, 2008, at Cheboygan Memorial Hospital.
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Tea Table Listing Updated
Births A son, Sheldon Mitchell Freeman , was born to Sierra Whisler and Seth Freeman of Charlevoix at 7:39 a.m. on July 22, 2008, at Northern Michigan Regional Hospital.
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Crooked River (Alanson) Lock in Cheboygan Re-Opens at Noon
The Department of Natural Resources today announced that the Crooked River Lock has been repaired and will re-open at noon on Friday, July 25.
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Crooked River (Alanson) Lock in Cheboygan Re-Opens at Noon
The Department of Natural Resources today announced that the Crooked River Lock has been repaired and will re-open at noon on Friday, July 25.
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Northern Neighbor: Ron Jordan takes time to plant and smell the roses
Ron Jordan loves not just taking time to stop and smell the roses, but also helping other people do the same.
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'Bionic' foot arrives
Joe Foster may not be the $6 million man, but the 42-year-old Northern Michigan resident is one of a handful in the state with a 'bionic' foot, thanks to new technology that is making it easier for some ...
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Oscoda men earn state championship during Curley
Two Oscoda paddlers won this year's Michigan Canoe Racing Association's Expert Division II state championship in the two-man class.
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Crooked River (Alanson) Lock in Cheboygan Requires Temporary Closure
The Crooked River Lock on the popular Inland Waterway, which runs from Crooked Lake near Alanson to Lake Huron near Cheboygan, has closed temporarily to public boating use due to emergency repairs needed on the ...
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Police investigate series of Emmet County break in's
The Petoskey Department of Public Safety along with the Emmet County Sheriff's Office and Michigan State Police are investigating a series of break ins from over the weekend at area businesses.
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Emmet County fugitive arrested
Emmet County Deputies found and arrested Hoag Thursday night around 10 p.m.near the Crooked River Bridge in Alanson.
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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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