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Reverse Mortgage
Divorce Buyouts
Debt Consolidation
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Hartland, 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
| Hartland, Michigan News |
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Church opens to homeless
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Ceramic heater should warm room
Dear Glenn: On a recent Sunday radio broadcast, a gentleman called about a cold corner upper bedroom.
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Hartland church named top in area
The River Community Church in Hartland Township has been named the 2008 Best of Howell Award in the "Places of Worship" category by the U.S. Local Business Association.
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Hartland super gets high marks
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Chamber event is canceled
A Blue Cross Blue Shield/Accident Fund informational program scheduled for Thursday at Stout Irish Pub has been canceled.
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End of gymnastics era at Hartland Economics causes program disbandment
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House burns, but man saved
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Fire destroys Hartland home
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Photo by Alan Ward / Daily Press & Argus
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Hartland vs. Rockford
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Battling a Legacy
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9 kinds of turkeys, from heritage to Michigan-raised
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Bluegrass trio comes to Hartland Music Hall
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New officer joins police in Hamburg 23-year-old a 2004 Hartland graduate
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Clerks report mostly smooth voting, 'minor glitches'
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Election sparks excitement
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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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