Hart, 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
| Hart, Michigan News |
Lawrence J. Crisman
Lawrence J. Crisman, 75, of Shelby, passed away to his heavenly home Monday, Nov.
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Briefs, updates:
An open house for retiring 27th Circuit Court reporter Sharon Chapman is set for Friday, Dec.
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Have you seen this Obama?
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Baby mauled at hunting camp by St. Bernard
A Sunday dog-mauling that resulted in severe head injuries to a 13-month-old Hart-area boy remains under investigation by the Oceana County Sheriff's Department.
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White Lake Junior Strings begins Jan. 5
Posted: 11-26-2008 White Lake Junior Strings begins Jan. 5 A new beginning strings program, White Lake Junior Strings, will launch Jan.
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Middle schoolers learn to be leaders
Hart and Shelby middle school students gained valuable experience during the American Youth Foundation's Michigan Middle School Leadership Initiative at Camp Miniwanca in Stony Lake, Nov.
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Six MDOT rest areas close for winter
Wednesday, November 26, 2008 at 1:23 p.m. The Michigan Department of Transportation announced Wednesday that six of its 81 rest areas are closing for the winter season.
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Inglis' philosophy drives 37 years
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Local team helps fix tornado damage
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Court sentencings 11-27-08
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Hart blacked out by roof leak
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WSCC financial aid workshops set
West Shore Community College's financial aid office will host four financial aid workshops for prospective college students and their families.
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DAR honors good citizens, essay winners
Posted: 11-21-2008 DAR honors good citizens, essay winners Since 1984, the Michigan Dunes Chapter of the Daughters of the American Revolution has hosted a reception honoring students chosen as their school's ...
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Steven Miller named Eagle Scout
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Field trips approved, one canceled
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Hart drama club presents 'Alice in Wonderland'
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Hart hires new park management, ups camp fees
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Dean Austin Claycomb
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Hart woman wins farmworker advocate award
Penny Burillo of Hart has been named Michigan's "Farmworker Advocate of the Year." Burillo, who retired from the Oceana County Family Independence Agency in 2007, received the award during the Michigan ...
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Retirements prompt courthouse staff shuffle
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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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