Albion, MI Divorce Buyout in Michigan
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 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
| Albion, Michigan News |
Educator sheds retirement to lead
After a couple of months on the job, Albion High's Bobby Tompkins remains busy putting the "eye" in interim principal.
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College students debate drinking age
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Residents' concerns trashing single-hauler idea
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In the Neighborhood
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Dispatch slated for fall
While it was once slated to open in January, then June 2009, the Calhoun County consolidated dispatch center will not be operational until fall 2009.
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In the Neighborhood
Interviews being held for Census Interviews are being conducted this week for the Census Bureau's biannual Current Population Survey, a nationwide sample of 72,000 households used to gauge demographic ...
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Senior vocalist Ashley Larimer presents recital at Albion College
The time has finally arrived! Join Ashley Larimer, family and friends as they celebrate her life and accomplishments in the field of music.
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Rotary Club meeting on Nov. 13
At the November 13 meeting of the Rotary Club of Albion, Rotarian Miriam Daly introduced the guest speaker Jan Barker, Chief Executive Officer of the Girl Scouts Heart of Michigan Council.
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Albion Public Schools supports Kids' Backpacks
Albion Public Schools recently gave a $500 grant to the Food Bank of South Central Michigan to support its Albion Kids' Backpack Program.
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Empty Bowls combats hunger at Albion College
Albion College's Secular Humanist Group and Art Club join forces to bring the Empty Bowls dinner to the Albion community.
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2008 CISD Employees Raise over $15,000 for Area United Way
During the month of October, the employees of the Calhoun Intermediate School District raised $15,902 for Calhoun County United Way campaigns.
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St. James' Christmas Bazaar and Swiss Steak Dinner Dec. 6
St. James' Episcopal Church Women will hold their annual Christmas bazaar from 9 AM to 1 PM on Saturday, December 6, 2008, in the parish hall at 119 West Erie Street in Albion.
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November Rotary Club of Albion meeting discussed voting
At the Rotary Club of Albion on November 6, President Dick Mortensen inducted Sharon Gray as a new member.
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National Gaming Day at the Albion District Library
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Read Local' series continues with Albion College's Danit Brown
The Albion College 2008-09 Reading Series, Read Local!, a celebration of home-grown literature that explores what it means to live and think in Michigan, continues on Tuesday, Nov.
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New Secretary of State PLUS office for Calhoun County residents
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Secretary of State to open combined office
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Jackson, Albion libraries to host events
Michael Rosenberg, author of "War as They Knew It: Woody Hayes, Bo Schembechler and America in a Time of Unrest," will be on hand at 6:30 p.m. Wednesday at the Jackson District Library's Carnegie branch, 244 W. ...
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Domingo unseats Albion mayor
Joseph Domingo is the new mayor of Albion, winning 1286 to current mayor William Wheaton's 986.
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New counseling services offered in Albion
Peggy Grigowski, president of the Life Repair Clinic Pllc, said she believes in treating every client as an individual and takes the time to get to know them so they are more comfortable.
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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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