Concord, 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
| Concord, Michigan News |
SAU to award six More Life Scholarships in February
Spring Arbor University continues its commitment to help soften the impact of todaya s economic hardships by offering the More Life Scholarship.
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Residents' concerns trashing single-hauler idea
Jason Sager loads in a bucket of garbage along his route near Wolf Lake Road. Officials in a handful of area communities have concluded that contracting with a single company for garbage collection services ...
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Downturn fuels more break-ins
Thieves kick in doors, cut locks or simply sneak through unlocked entrances. They take cell phones, construction tools, jewelry or guns -- anything they can sell for quick cash.
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Officials brace for busy fire season
A December blaze stemming from a wood stove destroyed a farmhouse in Concord Township owned by the same family for 80 years.
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Fines await hunters who bait
Hunters who assume the state Department of Natural Resources is spread too thin and flout the deer-baiting ban are making a $500 gamble.
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Area organizations plan various autumn bazaars
Known for its sauerkraut supper, Trinity Lutheran Church, 122 W. Wesley St., will serve that as part of its bazaar on Thursday.
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Two celebrations in one
With two books tucked next to her in the living room chair and her beloved cat Tabby within sight, Aletha Kelso of Concord was content on a gray, chilly morning.
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Campaign Notebook
A 50-year-old Marshall man has announced plans to be a write-in candidate for Calhoun County sheriff.
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Bad Bridge Causes Slow Response to Fire
A resident's garage goes up in flames and township officials say a bad bridge is partially to blame.
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Concord teen receives 7 to 20 years for probation violation
Leniency ended Thursday for a Concord Township teen who allegedly burned down a hunting cabin while on probation.
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Former elementary school reopens as pre-K facility
Six years after closing, Albion's Caldwell Elementary School reopened its doors this school year as a result of the growing popularity of all-day kindergarten.
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Superintendent to outline annual report
Robert "Jay" Bada, superintendent of Concord Community Schools, will be available at 6 p.m. Wednesday to present the district's annual report in the library of Concord High School, 219 Monroe St., Concord.
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Albion Riverside Cemetery Tour Oct. 12
Albion Historian Frank Passic will conduct his 14th annual guided tour of Riverside Cemetery on Sunday, October 12 at 1:30 pm.
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In Season: Whether for eating, cider or baking, it's apple time
Tom King reaches for an apple at Rex Young Orchards on Monday. The pumpkins are orange, the apples are crimson, the grain is golden, and cider is flowing in amber rivulets.
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Witnesses testify in arson case
Rusty Fisher felt something was ``suspicious'' when he saw two young men walking from an abandoned house in Pulaski Township on Sept.
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Concord teens to testify against co-defendants in arson
Three Concord teens who admit vandalizing a Pulaski Township house Sept. 2 turned on two co-defendants charged with burning the place down later in the day.
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Red Cross volunteer sees agency's value
Fred Kraus has a passion for the American Red Cross. He says it is an important organization that contributes a great deal to the community.
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Rain doesn't dampen Fall Festival spirit
The first night of the Jackson Family Fall Festival may have gotten a healthy dose of rainfall, but that didn't stop families from stopping by 405 E. North St.
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Another suspect charged in Concord arson
A second suspect in an arson fire last week in Concord Township was arraigned today in Jackson County District Court.
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Arson Fires Set in Jackson County
Investigators in Jackson county say two separate fires that destroyed two homes were intentionally set.The first fire happened on Tuesday on Watson Road in P ulaski Township.
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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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