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Hancock, 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.

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Hancock, Michigan News
TV6 Canathon

The Keweenaw continues to help feed a hungry neighbor, donating to the TV6 Canathon.


Detroit family pulls up stakes for U.P.

HANCOCK - Last September, Naomi and DeShun Parker escaped Detroit and moved to the Copper Country in search of a better life.


Tonight on TV6 Friday

Here's a look at what we're working on for tonight's news. Friday, November 07, 2008 at 1:50 p.m. Cliffs Natural Resources has put out the word that layoffs could be coming to the Marquette Iron Range.


Well-Being Newsmakers:

Munson Medical Center has received verification as a Level II Trauma Center by the American College of Surgeons.


Tonight on TV6 Wednesday

Here's a look at what we're working on for tonight's news. Wednesday, October 29, 2008 at 1:06 p.m. M-DOT has a new plan for plowing UpperA Michigan's state highways this winter.


Tonight on TV6 Monday

Here's a look at what we're working on for tonight's news. Monday, October 27, 2008 at 1:33 p.m. These are your stories for Monday, October 27, 2008.


Sign thieves show no partiality

You might have one in your front yard, or perhaps can see one in your neighbor's. From local races to the United States Presidency, political signs are scattered every few feet along highways and neighborhoods.


4th Inf. Div. relies heavily on linguists

" Depending on which theory or theology a person prescribes to, it is widely believed that mankind spoke the same language once; and then in an instant, or over a matter of years and migration, the language ...


Lawyer finds no sting in keeping bees

Months ago, Mt. Pleasant attorney Toni Sessoms began compiling a honey-do list that she hopes will grow markedly in the years ahead.


UP man dead after crashing into building

Forty-eight-year-old Jay Sigurd Seppanen is dead after his vehicle crashed Monday night in Hancock, Michigan, TV 6 reports.


Artists help city fight blight; plan more works

Blight spreads like an unchecked staph infection in Ruby Lee's Houghton/Jones neighborhood on the East Side.


Fatality in Hancock

Crash investigators from the Michigan State Police are in Hancock this morning, trying to figure out what happened in a fatal crash Monday night.


Tonight on TV6 Sunday

Here's a look at what we're working on for tonight's news. Sunday, October 12, 2008 at 2:55 p.m. A memorial for the three Dickinson County teenagers who were murdered in a shooting rampage near the East ...


Cultures come together

The air in Hancock rang on Saturday morning with the voices and music of people from all over the globe.


Tonight on TV6 Friday

Here's a look at what we're working on for tonight's news. Friday, September 12, 2008 at 12:40 p.m. This time last year, Michigan legislators were bracing for an governmental shutdown.


Family of pasta makers moves on

Now the production manager for the Baroni Company in Calumet, former owner Nancy Baroni insists she has no regrets about letting go of a business that's been in the family for over 70 years.


Pill disposal the right way

Throwing her unused and expired prescriptions in the D.U.M.P. box is what senior Gladys Tapio has been doing for the last four years.


Dirt bike suspect arraigned

A downstate Michigan man was arraigned in Houghton District Court Friday for concealing stolen property, more than a year after a Suzuki dirt bike was stolen from M and M Powersports in Hancock.


Water flow to surge

Fire hydrants in Hancock will see a flow increase of 40 percent by the end of fall, after crews finish replacing the 70-year-old transmission water main.


Monte Carlo destroyed by fire

The Monte Carlo, a longtime bar on Ethel Avenue in Hancock, was destroyed by fire Tuesday morning.


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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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