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MI Divorce Buyout in Michigan

Since 1979 Somerset Mortgage Lenders 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.

Local divorce buyout directory for MI :
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Painesdale Pentwater Pinconning Port Huron
Palmer Perkins Pittsford Port Sanilac
Palms Perrinton Plainwell Portage
Palmyra Perronville Pleasant Lake Portland
Palo Perry Pleasant Ridge Posen
Paradise Petersburg Plymouth Potterville
Paris Petoskey Pointe Aux Pins Powers
Parma Pewamo Pompeii Prescott
Paw Paw Pickford Pontiac Presque Isle
Peck Pierson Port Austin Prudenville
Pelkie Pigeon Port Hope Pullman
Pellston Pinckney

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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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