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Allendale, 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.

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Allendale, Michigan News
Embezzlement alleged in Allendale athletics

The American Civil Liberties Union is asking for a temporary injunction to force the city of Flint to immediately stop enforcing a ban on police officers speaking to the media.


Man to appear in court on embezzlement charges involving Allendale Youth Athletic Association

The former president of the Allendale Youth Athletic Association will be in Hudsonville District Court for a probable cause hearing on charges he embezzled $16,000 from the organization.


County adds to parks land along Grand River

More than 6 miles along the Grand River's south bank is now part of a growing land conservation effort.


Grant pays for party patrol; 51 citations overnight

Ten officers, trying to send a message to thousands of students: break the law, face the consequences.


On exhibit in West Michigan galleries

To be included in the On Exhibit listing, send a notice to The Press at least two weeks before the event or opening that includes the exhibit title, artists, exhibit dates, gallery name, address and hours.


Continue reading "Teen, father seek cause of E. coli at beaches"

Grand Valley State University professor Rick Rediske, left, and a team that included his son, Jeremy, an Allendale High School senior, worked several weeks this summer to scoop algae from Michigan beaches.


Developer agrees to change housing plan

During his first year as chief executive officer of the Jackson YMCA, Clark Heter spent much of his time sequestered in his office, reviewing the budget and connecting with foundations and agencies.


Teacher gets probation for obscenity conviction

A judge has sentenced a Grandville Middle School science teacher to a year's probation for obscene disorderly conduct in a public locker room, and district leaders are reviewing the misdemeanor conviction to ...


Is state really dedicated to higher education?

"Investments can come, not only from the state, but from private donors or internships," says Eileen Wilson-Oyelaren, president of Kalamazoo College.


Ringelberg stepping down as NOCCOA director

When Gail Ringelberg took over the reins of the North Ottawa County Council on Aging eight years ago, she thought she could accomplish her goals in two years.


My Take - a step forward at Gvsu

Grand Valley State University in nearby Allendale deserves commendation, not criticism, for implementing an insurance benefit for its unmarried employees with live-in partners.


Human error mars Allendale vote totals, officials say

Changing voting patterns in the Michigan House 61st District will make November's race a tough competition for Republican candidate Larry DeShazor and Democratic candidate Julie Rogers.


First Allendale Christian Reformed Church nearly repaired after vandals cause $15,000 damage

The vandals who ransacked First Allendale Christian Reformed Church will be on the thoughts of parishioners at Sunday services.


Vandals damage Allendale church

Vandals caused up to $15,000 in damage to First Christian Reformed church, police said today.


Neil Diamond; "He's coming to Grand Rapids..."

Take a wild guess as to who Mike Carnahan calls 'The greatest musician ever.' Hint; it's not Cher.


Worker saved by harness in fall at GVSU

A worker has his safety equipment to thank after falling through a skylight window on the campus of Grand Valley State University on Monday afternoon.


Worker saved by harness in fall at GVSU

A worker has his safety equipment to thank after falling through a skylight window on the campus of Grand Valley State University on Monday afternoon.


Worker saved by harness in fall at GVSU

A worker has his safety equipment to thank after falling through a skylight window on the campus of Grand Valley State University on Monday afternoon.


Worker saved by harness in fall at GVSU

A worker has his safety equipment to thank after falling through a skylight window on the campus of Grand Valley State University on Monday afternoon.


Friday's quilt show kicks off Coast Guard Festival

The 2008 Coast Guard Festival will kick off Friday and Saturday with the Lighthouse Quilt Guild show.


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"...I was sure that Somerset was the right choice...they couldn't have been more compassionate or understanding...I just couldn't believe that this all happened within a week...Thanks to my loan officer and all the rest of those great people at Somerset, my family will be able to stay in the only home they have known for some time, without fear of being put out." - Tom N.
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