Allegan, 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
| Allegan, Michigan News |
State warns vets of disease in dogs
Veterinarians across the state are on high alert after two area dogs died of a little known, yet deadly, disease.
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Barn fire causes explosion in Allegan County's Trowbridge Township
No one was injured on Saturday when a fire started in a Trowbridge Township pole barn, igniting two propane tanks inside that exploded, according to Otsego Fire Chief Vince Pagano.
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Otsego Township board reverses settlement
Otsego Township board members voted 4-1 on Aug. 11 to reverse an out-of-court settlement with Bittersweet Ski Resort Inc.
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Sister of accused Tyo killer sentenced
Court documents show Ford Motor Co., Procter & Gamble Co. and General Electric Co.
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City will again seek street bond Nov. 4
Wednesday, August 13, 2008 4:37 PM EDT The City of Saugatuck, whose May 6 request for a street-repair bond failed by seven votes, will try again Nov.
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Allegan requests clarification on license agreements
Wednesday, August 13, 2008 4:45 PM EDT The Allegan City Council tabled two issues during their regular meeting, Monday, Aug.
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Allegan park proposal passes, renovations may still be delayed
The City of Allegan is one step closer to Jaycee Park improvements thanks to a successful proposal on the Aug.
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Allegan OKs $780,000 energy bond for school
Wednesday, August 13, 2008 4:45 PM EDT The system that controls Allegan High School's heating and cooling system is getting old.
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Vets On The Look Out For Deadly Dog Disease
The state is warning veterinarians across Michigan about a little known, yet deadly, disease.
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Continue reading "Rare dog disease is noted in Van Buren County"
Dog owners and buyers are being warned about a rare disease that has resulted in the death of two dogs in Van Buren County and been reported in dogs in three other Michigan counties.
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Police to begin drunk driving crackdown
Eighty West Michigan law enforcement agencies will be cracking down on end-of-summer drunk drivers beginning this weekend.
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Allegan County revises farmland ordinance
Allegan County revises farmland ordinance Kalamazoo BY ROD SMITH ALLEGAN -- The Allegan County Board of Commissioners has revised its farmland-preservation ordinance in an attempt to protect waterways and ...
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'Little Women' musical is Saturday in Allegan
The Drama Group of Chicago Heights, Ill., will present "Little Women" at 8 p.m. Saturday in Griswold Auditorium, 401 Hubbard St., Allegan.
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What's happening Saturday: Car show-sock hop; free airplane rides for youths
Fundraiser in Schoolcraft The 10th Annual Car Show-Sock Hop to benefit Hospice Care of Southwest Michigan is being held at 11611 Shaver Road, Schoolcraft.
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Strict Discipline Academy in Allegan gets grant to study outcomes
Strict Discipline Academy in Allegan gets grant to study outcomes BY ALISON BLACK ALLEGAN -- At Outlook Strict Discipline Academy, students will be back in session on Sept.
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2 Drivers Pinned in, 1 Car Fire
Two people are in the hospital after smashing into each other. Police say the accident happened around 6:40p.m. Saturday at the corner of Lakewood Blvd.
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Local group helps families rebuild after storm damage
Clean-up continues in Allegan Co. after lines of severe storms moved through the area in June.
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Township approves two new ordinances
Allegan Township officials passed two new ordinances at their Monday, Aug. 4, meeting.
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Heintz violates probation
Wednesday, August 6, 2008 4:33 PM EDT A former Allegan Township photographer who was found guilty in 2006 of photographing his female customers while they were changing has admitted to violating his probation.
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City raises sewer rates again
Wednesday, August 6, 2008 4:33 PM EDT The Allegan City Council bit the bullet Monday.
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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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