Magnolia, NC Divorce Buyout in North Carolina
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 North Carolina, 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 NC
| Magnolia, North Carolina News |
Inland N.C. vintner hits muscadine sweet spot
Published: Wednesday, October 22, 2008 at 7:51 a.m. Last Modified: Wednesday, October 22, 2008 at 7:51 a.m. North Carolina's coastal plain is muscadine wine central, with Rose Hill's Duplin Winery at the core, ...
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Leland crime report
Leland crime report Leland police officers investigated the following incidents and made the following arrests last week.
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Duplin mediationdrawing to close
' Duplin County is on the verge of a lawsuit. Mediation between the Board of Education and county commissioners may be coming to an end, but a potential lawsuit looms in the background.
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Duplin mediationdrawing to close
' Duplin County is on the verge of a lawsuit. Mediation between the Board of Education and county commissioners may be coming to an end, but a potential lawsuit looms in the background.
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Police Blotter: Grandparents die in trailer fire
Published: Monday, July 7, 2008 at 11:21 p.m. Last Modified: Monday, July 7, 2008 at 11:21 p.m. Two children escaped a burning home in Duplin County last week, but an effort to save their grandparents was ...
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Fatal fire ruins home in Magnolia
Two small children managed to escape an early Wednesday morning house fire that claimed the lives of an elderly couple at 508 John Rich Road.
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Duplin sheriff seizes kilo of cocaine
The arrest of three illegal aliens and the seizure of a kilo of powdered cocaine, a separate drug arrest involving counterfeit money and an incident of a break-in suspect firing a shotgun in a motor-vehicle ...
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Second man arrested in 2005 Burger King robbery
Lexington police have arrested the second of two brothers in the March 2005 robbery of Burger King on Talbert Boulevard.
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Duplin Schools to ease JKSE transition
Duplin school board plans to make accommodations for JKSE students 29 May 2008 By John Cate, staff writer The Duplin County Board of Education played to a packed house at Monday night's meeting, with a large ...
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Man freed after 15 years on death row
"It has taken 15 years for the court system to make the determination that Mr. Jones' original counsel was ineffective" After nearly 15 years in prison, most of which were spent on death row, Levon Junior "Bo" Jones is now a free man -- and saying he is innocent of the crime that put him there. via Goldsboro News-Argus
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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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