Grosse Ile, 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
| Grosse Ile, Michigan News |
SPEAKOUT: What's your favorite Christmas carol?
"My favorite is 'Rockin' Around the Christmas Tree.' My little brother, Brennan, and I like to sing and dance to it every year." MacKenzie Sanford Grosse Ile "I love 'Silent Night.' I've liked it ever since I ...
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Ballet company's 'Nutcracker' to light up Salem stage
The Sugar Plum Fairy, Snow Queen and Herr Drosselmeyer will be some of the characters that take center stage when the Plymouth-Canton Ballet Co.
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RIVERVIEW: Apartment fire kills one
A 68-year-old man died after a fire Thursday at a senior apartment complex. Bellaire Independent Senior Apartments, 12621 Hale St., caught fire at about 10 p.m. and its residents were evacuated.
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SPEAKOUT: What are you most thankful for?
"I'm most thankful for good health, never being hungry, living in a great city and for having many great friends." Fritz Emery Wyandotte "I thank God every day for all that he has blessed me with: family, ...
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Music to your ears
The music will be pouring out of St. Joseph Catholic Church , 2565 Third St., Trenton, this fall.
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Pasta fund-raiser scheduled
Friends of Tom and Robin O'Donnell of Grosse Ile are planning an open house fund-raiser for the couple's son from 3 to 8 p.m. Sunday at the Woodhaven Community Center.
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School bomb threats draw swift response
The high school was faced with two bomb threats this week. The first was found in a girls' bathroom Friday afternoon.
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in the Spotlight: Beltone
The sweet sound of success still resonates in Beltone's Downriver offices. Owners Dan and Jean Fletcher of Grosse Ile are celebrating their company's recent award, the President's Cup.
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in Brief: News from around Downriver
The Wayne County-owned bridge between Trenton and Grosse Ile Township will be closed for installation of a catwalk below the bridge deck through 5 p.m. today.
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Somewhat smooth sailing
Photos submitted by Greg Karmazin/GIBC While the Wayne County free bridge was closed over the weekend for a planned maintenance project, traffic flowed relatively smoothly at the Grosse Ile Toll Bridge, with ...
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Grant of $496,000 awarded for safe routes
The Grosse Ile Safe Route to Schools Committee has been awarded a federal grant of nearly a half-million dollars.
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HISTORY: Grassy Island Lighthouse
By Wallace Hayden Michigan has more lighthouses than any other state in the nation and Downriver has had some notable contributions to that list.
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Trine Football Players Honored By MIAA
ROYAL OAK, Mich., - The Michigan Intercollegiate Athletic Association has named Hope College tailback Josh Echtinaw, Trine University wide receiver Paul Curtis, Adrian College defensive lineman Justin Judd and ...
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Grosse Ile bridge closed until Sunday evening
The Wayne County Bridge will remain closed on Saturday and part of Sunday for maintenance.
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Grosse Ile: Free bridge closed through 5 p.m. Sunday
Motorists take note. If you're heading to Grosse Ile this weekend, you'll have to take the toll bridge.
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School board unchanged
Grosse Ile had a very closely contested school board election on Tuesday. Incumbents Terese Hunter and William Tuinier will return for their second four-year terms.
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Work on Grosse Ile free bridge set for weekend
Upgrades to the Grosse Ile free bridge that had been scheduled for last weekend are now scheduled for Saturday and Sunday.
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Free Drive Up Flu Shots
The Royal Oak Medical Center is offering a drive-up flu clinic on Saturday that will benefit the recipients and those in need.
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Lights! Camera! Action! Open Call in Howell
A casting call for extras is taking place this weekend for a new movie being shot in Howell.
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Grosse Ile Free Bridge Closed
The Grosse Ile free bridge is closed this weekend. Wayne County officials say they're closing the free bridge for installation of a catwalk beneathe the bridge deck.
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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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