Allenton, 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
| Allenton, Michigan News |
Death Notices
PORT HURON -- Ronald L. Green, 47, died Thursday, October 2, 2008. Survived by his wife Kathy.
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Fresh food hits local stands
After the sensory overload these past two weeks -- including Boat Week and Bayfest -- this week almost felt like culture shock.
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BRIEFCASE
Lynette Skupa from Macomb County and Wesley Pardon of Allenton won $500 in the first week of the 'Shop, Dine and Win Weekends in July' promotion sponsored by the Blue Water Chamber of Commerce and the Downtown ...
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Villagers reflect on small-town shooting
"That's where some people like to hide." CAPAC -- The cliches seemed to leap from one tongue, bounce between police cars and land in someone else's mouth: "This is small-town America;" "Everybody knows everybody;" and "I never thought this could ... via The Times Herald
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Man may face two robbery charges
"It's just because they're not in constant communication. Otherwise, I don't know that it works in his favor." Scott Edward Berry, 36, will not be getting out of the St. Clair County jail unless he can come up with a $250,000 bond. via The Times Herald
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Capac State Bank robber gets quarter-million dollar bond
Scott Edward Berry, 36, of Washington Township, will not be getting out of the St. via The Times Herald
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Police nab suspect in March 3 bank robbery
The St. Clair County Sheriff Department arrested a suspect on Thursday afternoon in connection with the March 3 robbery of the Allenton branch of the Capac State Bank. via Times Herald
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Robber strikes again?
"We are still seeking any information that someone may have to follow up on." A man who robbed the Capac State Bank in Allenton may be the same man who robbed a bank in Bruce Township on Feb. via Advisor & Source Newspapers
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Bank robbed on Monday
"He entered the bank soon after it opened" Unmasked and chatting on his cell phone, a man robbed a Capac bank Monday morning. via The County Press
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Capac State Bank robbery: surveillance still photos
Police have released surveillance video stills from the Allenton branch of the Capac State Bank which was robbed by this man just after 9 a.m. today. via Times Herald
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Death Notices
MARYSVILLE - Joseph Vaughn 'Bing' Patterson, 80, died Friday, December 28, 2007. via The Times Herald
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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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