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Divorce Buyouts
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Cement City, 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
| Cement City, Michigan News |
Schools do their part to help blood shortage
Northwest High School seniors Bruce Winters, right, and Kelsie White check on their classmate, Ken Wedgwood, as he donates his blood during a blood drive Tuesday in the school's library.
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New flea market to open on Labor Day
A new flea market will open for business on Labor Day in Cement City and will return on the first Saturday of each month through the end of the year.
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Continue reading "Kids get chance to sample life on Cement City horse ranch"
Shaquan Brown gets settled on his at Lazy B's Ranch in Cement City. Megal Russell was nervous about his first horse ride.
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Pioneer Wine Trail event marks the end of summer
The Southeast Michigan Pioneer Wine Trail will be hosting its annual end-of-summer wine pairing event, the Wine Days of Summer picnic trail, on Saturday and Sunday, Aug.
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Police millages: Is local approach best?
The following is a Jackson Citizen Patriot editorial for July 30: The fate of three small police departments that protect four Jackson County townships will hinge on the results of Tuesday's elections.
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St. Johns gym yields heavyweight hopeful
ST. JOHNS - Chuck DeSander Jr. has picked up the pace around his Price Road gymnasium, with six professionals training at what is now called Mid-Michigan Boxing.
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Voice of the people: Election for July 24
I urge you to vote for Amanda Riska, county clerk. I had the opportunity to work with Amanda and Mickey Mortimer.
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Continue reading "Revved up riders"
Becky Robbins divorced after buying her first Harley-Davidson, inherited a Harley Road King when her second husband died and wed her current husband at a Harley dealership.
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Hayes State Park Hosts a 'GO-Get Outdoors' Earth Day/Birthday Celebration
"A very important part of the day is the tree restoration project" Hayes State Park will host its annual "O-Get Outdoors" Earth Day/Birthday celebration on May 3, beginning at 9:30 a.m. This event is a day of celebration, park beautification, clean-up and tree planting. via State of Michigan
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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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"Every other company said they could not help us. After speaking to about five companies, we really believed that no one could. Then we called Somerset, and your company proved us and those other companies wrong. We can't thank you enough for all your hard work and effort in getting us a low fixed rate. We can now breathe easier..." - L. Braun
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