Grosse Pointe, 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 Pointe, Michigan News |
Kilpatrick files to get law license suspended, not revoked
An attorney for former mayor Kwame Kilpatrick late today filed a petition with the state Attorney Discipline Board to have the revocation of Kilpatrick's law license downgraded to a suspension.
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Church activities
Christ Church Christ Church Gifts and Greens Sale will be Friday, Dec. 5 through Sunday Dec.
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Santa parade had humble beginnings
In the fluid world of organizing Santa Claus parades, the last thing Terri Berschback wants is rain.
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Parker, Zade earn All-State honors
Grosse Pointe South senior Alex Parker and Grosse Pointe North sophomore Doug Zade each made All-State First Team honors.
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Church activities
Thanksgiving celebration A non-sectarian Thanksgiving celebration, under the direction of Grosse Pointe Congregational Church and the Jewish Council of Grosse Pointe will be held at 7:30 p.m. Tuesday, Nov.
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MAC doles out All-Conference honors following season
The top boys soccer players in the Macomb Area Conference's five divisions were recently honored as All-Conference selections, with Most Valuable Players and Coach of the Year winners chosen, as well.
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Man charged in slaying after body was discovered in Clinton Township
A first-degree murder warrant was issued today charging a Fraser man in the homicide of a 30-year-old woman in Clinton Township this week.
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Detroit council keeps charter change off ballot
Detroiters may have to wait nine more years before the city charter is revised, and some blame the delay on City Council members worried about job security.
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Should GM Be Saved?
Should GM be saved? From a free market perspective, the answer is clear: "Heck no!" Unfortunately things just aren't that easy... So the members of the G20 met over the weekend, and it was pretty much as ...
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Clues sought after woman's body found in old gravel pit
Clinton Township police were investigating the death of a woman whose body was found partially submerged in about 3 feet of water in an old gravel pit in the area of the Grosse Pointe-Clinton incinerator.
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Wayne County news in brief: Meals on Wheels help is needed
The Detroit Area Agency on Aging Holiday Meals on Wheels program is seeking volunteers to pack, distribute and deliver fresh-cooked meals to homebound seniors in metro Detroit.
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Hip bachelor bets on Detroit Garden Court condominium
Ryan South, 25, looked at about 150 houses for sale on Metro Detroit's eastside before he realized what he really coveted.
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La Societe des Jardiniers The La Societe des Jardiniers meet at noon Thursday, Nov.
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Attorneys: Kilpatrick's Law License Should Be Reinstated
While former Detroit Mayor Kwame Kilpatrick sits in Wayne County Jail, his attorneys have said they may challenge the sentencing judge's ruling of revoking Kilpatrick's law license.
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Exhibit featured at AMC 20 Theaters Tuesday
State Sen. Glenn S. Anderson and Livonia AMC 20 Theaters have collaborated to treat metro Detroit veterans to a free screening on Veterans Day of Clint Eastwood's film, Flags of our Fathers, on Veterans Day ...
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Church activities
LTA Lay Theological Academy hosts the Covenant Players for an evening of original dramatic works based on the life and teachings of Paul at 7:30 p.m. Wednesday, Nov.
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...tell me more
Holiday mart The free opening reception for the Detroit Artists Market Annual Art for the Holidays is from 6 to 9 p.m. Friday, Nov.
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Church To Protest Local School Play
GROSSE POINTE, Mich. - A Kansas church said it plans to protest the Grosse Pointe High School production of "The Laramie Project." The play highlights hate crimes against gays after the 1998 beating death of ...
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1ST District State House: Democrat Bledsoe out in front in the Pointes
Democrat Tim Bledsoe was leading Republican Mary Treder Lang for the state House 1st District seat with 96% of precincts reporting.
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Someone's house is getting T.P.ed every day until Christmas
This is a true story: A woman in Grosse Pointe, Michigan refused to give Halloween candy to children whose parents support Barack Obama for president.
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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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