Alloway, NJ Divorce Buyout in New Jersey
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 New Jersey, 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 NJ
| Alloway, New Jersey News |
Alloway man critical after 3-vehicle crash
An Alloway man remained in critical condition late Wednesday following a three-vehicle accident here during the morning hours on Telegraph Road, authorities said.
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One airlifted in Alloway accident
At approximately 8 a.m. today there was a three-vehicle accident on Route 540. A Chrysler PT Cruiser collided with a Ford pickup truck that was pulling a camper trailer.
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County officials dissolve SCUA
The freeholders adopted an ordinance dissolving the Salem County Utilities Authority after a silent public hearing Wednesday, putting its day-to-day operations under the oversight of an expanded county ...
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Some Salem County tax bills were wrong
An error in the tax bills sent out in seven municipalities participating in open space programs has created an estimated $35,000 shortfall in the tax collection this year, officials said.
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Towns buck police plan
With the state now requiring municipalities to begin paying for state police patrols, at least two local government bodies are protesting.
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Salem County Sheriff's Department makes child support arrests
The Sheriff's Department cleared 44 child support warrants during July. Nine others were arrested on additional warrants.
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Religion News
BRIDGETON -- The Open Hearts Parish Ministry will hold Vacation Bible School, themed 'Jerusalem Marketplace: Where Jesus Walked to the Cross' from 6:30 to 8:30 p.m. Aug.
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Grieving kids find joy at camp
ALLOWAY -- For children trying to get through the grieving process associated with losing a beloved family member, there are few places to turn.
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Camp set for August
Youth Empowering Youth, a week-long day camp sponsored by the Southwest Council, Inc., is being held during the first two weeks in August for adolescents showing leadership skills who participated in ...
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8 county towns get state police bill
Bills have gone out to 89 towns that would begin paying for state police patrols for the first time in January if they decide to continue the service.
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PEOPLE Vineland woman wins teacher contest
Vineland resident Esther McQuaid is a winner of SRA/McGraw-Hill's 'What's the Story?' Teacher Author Contest.
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Poker Run draws hundreds of area bikers
Almost 400 motorcyclists from the tri-state area turned out to support Pennsville Fire and Rescue Department's volunteer firefighters on the Eighth Annual Poker Run.
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SH&WF awards grant to Cooper
From Staff Reports tsnews@sjnewsco.com SALEM The Salem Health and Wellness Foundation has awarded a five-year grant totaling $1,307,706 to Cooper Hospital/University Medical Hospital to provide health screening ...
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SH&WF awards grant to Cooper
From Staff Reports tsnews@sjnewsco.com SALEM The Salem Health and Wellness Foundation has awarded a five-year grant totaling $1,307,706 to Cooper Hospital/University Medical Hospital to provide health screening ...
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Oldmans set for property revaluation
OLDMANS TWP. After waiting more than a decade and a half, the township will go ahead with a municipal property revaluation soon.
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Motorcyclist injured in accident
ALLOWAY TWP. A motorcyclist from Delaware remained hospitalized following an accident here Wednesday afternoon.
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Motorcycle accident in Alloway Township
Police and ambulance squads are currently at a motorcycle accident on the 200 block of Telegraph Road.
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Repairs to close section of road in Pilesgrove
The county will close a section of a road in Pilesgrove Township and prepare for reconstruction of another road in Alloway Township beginning today, according to Freeholder Bruce Bobbitt.
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Woman cleared in horse abuse case
SALEM Animal cruelty charges have been dropped against one of the two women accused last September of neglecting a show horse, according to a superseding indictment filed in Superior Court here.
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Police sweep nets 54 arrests
SALEM Law enforcement officials who have surpassed the halfway mark to a year without murder announced on Tuesday they are continuing to tighten the reins on violence in the county's most criminally active ...
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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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