Reese, 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
| Reese, Michigan News |
Reese High School Closed After Boiler Break
Reese High School in Tuscola County will be closed Monday and Tuesday, because of a major boiler malfunction.
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Another great party for a greater cause
THE EATON RAPIDS Education Foundation recently hosted another great party at the English Inn.
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This week's municipal decisions
MACOMB COUNTY: The Macomb County commissioners are to meet Tuesday to further reduce a record $33-million deficit for next year.
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Foul play not likely in fatal fire
An autopsy confirmed that remains found Monday in a burned Jeep behind a fire-damaged home are those of the home's co-owner. Michele M. Letson, 45, likely did not die as a result of foul play, Frankenmuth ...
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Four injured in two-vehicle crash near Reese
A two-vehicle crash near this Tuscola County village on Monday night sent four people to hospitals, according to police.
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Frankenmuth police find a body in a burned vehicle
Frankenmuth police are investigating a suspicious death. "At this point, we don't know what's going on," said Frankenmuth Police Officer Randy Flathau.
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Groove Walk shares Holland's nightlife destinations
Almost every weekend, you can hear live music at The Curragh Irish Pub, in downtown Holland.
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Just call them Elna Marie: Three women, same age, same name, meet in Reese to share stories
Meet Elna Marie. All three of them. They are, from left to right, Elna Marie Johnson of Klamath Falls, Ore., Elna Marie Kempff of Reese and Elna Marie de la Bandera of Monroe Township, N.J. The three ...
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SENTENCINGS
Justin D. Dietrich, 20, of 7548 Bradenton was sentenced by Saginaw County Circuit Judge William A. Crane to two years of probation for malicious destruction of a building more than $1,000 June 11, 2007, at 9000 ...
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Your News
The Women's Expo and Scrapbooking Show runs from 10 a.m. to 8 p.m. Friday and Saturday, and noon to 5 p.m. Sunday at the Birch Run Expo Center, 11600 N. Beyer.
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The common denominator for trio: Their name -- Elna Marie
This Tuscola County town is the hot vacation spot for 72-year-old women named Elna Marie.
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Brown to host town hall meeting on toxic toys
State Rep. Terry Brown, D-Pigeon, will hold a town hall meeting on Monday to inform residents about the dangers of lead and other toxic chemicals in children's toys and offer free testing of toys.
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Historic structure destroyed
September 13, 2008 - 12:00 a.m. EST Photo Photo DENMARK TOWNSHIP - 1 One family is homeless and another is mourning a piece of their family history after a fire erupted at "Simerson's Corner." Reese Fire and ...
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Young author Reese Haller to visit local library
Sept. 16: Preschool Storytime , Tuesdays, Sept. 16, 23 and 30, 10:30 a.m. Sept.
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$144,000 Relay kicks off Saturday
The only thing that the Tuscola County Relay for Life needs is you! This year's Relay for Life will take place Sept.
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Man Arrested For Allegedly Abusing Child
The Mount. Pleasant Police Department investigated an allegation of child abuse Wednesday involving a 2-year-old boy who was allegedly abused by a friend of the child's mother.
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Your News
Adults, come to the Chesaning Public Library on Saturday, Sept. 20, for Reading Between the Vines featuring a wine tasting.
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Saginaw County voters will decide tax requests this fall
Frankenmuth's Wickson District Library has 38,826 books, 1,245 DVDs, 983 audio books, 323 music CDs and subscriptions to a hundred newspapers and magazines, its librarian says.
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Northport to select interim school chief
The Northport Board of Education will decide next Monday night who will serve as the district's interim superintendent.
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Your News
Friends of Olivia Morse will host a benefit Sunday at the Albee Township Community Center, 10645 East.
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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 was sure that Somerset was the right choice...they couldn't have been more compassionate or understanding...I just couldn't believe that this all happened within a week...Thanks to my loan officer and all the rest of those great people at Somerset, my family will be able to stay in the only home they have known for some time, without fear of being put out." - Tom N.
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