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Reverse Mortgage
Divorce Buyouts
Debt Consolidation
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Harsens Island, 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
| Harsens Island, Michigan News |
Seven arrested in drug raids
The St. Clair County Drug Task Force has arrested seven people this week in two drug raids.
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Oh buoy
Bob Hanford, the volunteer keeper of the Fort Gratiot Lighthouse, looks over the two buoys that were donated to the Port Huron Museum.
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Fenton man donates 2 buoys to museum
Two aids to navigation that once showed mariners and recreational boaters the safe passage through area waterways will be returning to Port Huron.
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Walk to benefit library
The Reader's Cove library on Harsens Island is having a Christmas Walk Dec. 12. The funds raised will be used to purchase books.
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Harsens Island no easy hunt
A heavy sky of low, leaden clouds was pushing east-southeast against an attempted sunrise.
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Luck a big part of hunting on St. Clair Flats
HARSENS ISLAND -- Local knowledge helps. But so would a lucky rabbit's foot. On three previous days, 506 ducks and 18 Canada geese had been shot by hunters at the St.
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Marine City Tot Lot soon to sport playground equipment
Marine City took advantage of a seemingly good deal from a Harsens Island businessman on some used playground equipment for the city's Tot Lot Park.
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Giving something back
A group of hunters look over a selection of long guns and handguns that were raffled off at the SCFWI recent annual banquet.
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GPS led to big cash seizure against Canadian man
A Canadian is trying to recover more than $100,000 seized from his car after border agents secretly slapped a GPS device on the vehicle and tracked it from Michigan to Georgia and back.
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Author hooks publisher with 'fish-out-of-water' tale
Since she was a child, Linda Wolf has always enjoyed writing. The mother of three even took time to make up little stories using her children's spelling words when they were growing up.
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County needs temporary bridge at Beach Road
Given the impending traffic crisis regarding the Interstate 94 bridge construction over the Black River, it may be a good idea to call on the U.S. Army to build a temporary Bailey bridge over the Black River at ...
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DEQ denies Lucky 7 development permit
The Michigan Department of Environmental Quality's Land and Water Management Division recently denied a permit for a Harsens Island development project.
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City to attack plague plant with bug army
Beetles with an appetite for a wetland-plaguing plant called purple loosestrife will likely be let loose in St.
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Giving it their best shot
Doug McMullen removed the used casing from his shotgun after a successful shot at a clay pigeon and declared he shot ahead of the moving target just a tad.
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Dad will swim Lake St. Clair to fight son's cystic fibrosis
Ric Geyer is not an athlete. He swims to soothe his brain, which shrieks at him every time he remembers his son's chances of survival.
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Backers plan celebrations for Obama
Like many members of the Democratic Party, Richard Pack is getting ready to, well, party.
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Rate hike OK'd for Lake St. Clair ferry service
It will cost motorists a bit more to ferry between Harsens Island in Lake St. Clair and Algonac.
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LaFore notches another triumph
SOUTH LYON -- Curtis LaFore is riding a winning streak on the Michigan Amateur Golf Tour.
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Eckert: Hunters, you have just 2 more months
Something happened to summer while I wasn't looking. It's August already? The good news is hunting seasons will be here before you know it.
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Harsens Island development appeal heading for final pretrial
The appeals process for two development companies looking to build a housing project on Harsens Island will take another step forward.
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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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"I prayed day and night for a miracle...In less than a week, (Somerset) was able to stop the foreclosure and get a new mortgage for me. It was the best of times...I have Somerset Mortgage Lenders to thank until eternity for the miracle they were able to make come true." - Diane B.
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