Andover, 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
| Andover, New Jersey News |
Housing rules spark debate
Affordable housing advocates have taken the offensive in the ongoing war of residency and status in the state.
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Cops: Man crashed stolen truck into pole in Washington Twp.
WASHINGTON TWP. -- An Andover man who led police on a chase through Hackettstown and Washington Township crashed a stolen pickup truck into a utility pole on Schooley's Mountain Road late Sunday night, ...
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Dentist's sex abuse trial may be delayed
Jury selection could begin today in the civil trial of an Andover oral surgeon accused of sexually abusing women while they were under anesthesia.
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Local briefs for 8/27: Andover delays vote on development
At its Monday meeting, the Township Committee decided again to put off a decision on its controversial constraints ordinance.
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Sussex-Wantage merger study under way
The Sussex-Wantage joint consolidation study commission hired former Sussex County administrator Greg Fehrenbach of Government Management Advisors LLC to serve as its study consultant.
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Power lines put Fredon home in jeopardy
The house is a first and an only -- first frame house in Fredon and the only house in New Jersey that sits right under major electric transmission lines and in the path of a planned 500-kilovolt power line ...
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Newton woman avoids serious injury in airborne Limecrest Road crash
A 79-year-old Newton woman avoided serious injuries Thursday afternoon when her Toyota Tercel ran off Limecrest Road and into a large drainage ditch during a heavy downpour, police said.
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7 hurt in Andover wreck
Police say the driver of a SCARC bus lost control on Old Creamery Road and slammed into a wall.
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Andover crash injures SCARC students
Seven developmentally disabled passengers complained of pain Wednesday after their bus struck a retaining wall on Old Creamery Road, police said.
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Local briefs for : Andover Borough names senior of year
Doris Lewis, a longtime volunteer and Andover employee, is the Senior Citizen of the Year.
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7 people with developmental disabilities hurt in Sussex County bus crash
Seven people with developmental disabilities suffered minor injuries this morning when their bus crashed into a retaining wall in Sussex County, police said.
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Field report: Route 206
Here are the field reports from our Route 206 Munchers, who included six librarians from the Newark Public Library and two lifelong friends.
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Freebie fest on Newton Green
Imagine a marketplace where everyone shared their skills -- be it a service, food or musical performance -- for free.
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Teen confesses to stabbing
A Newton teenager admitted he repeatedly stabbed a 57-year-old woman in her face, neck and arm with a knife while he stole her purse in her Lincoln Place driveway three years ago.
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Marion Kline Donnelly
MORRIS PLAINS -- Marion Kline Donnelly of Morris Plains, N.J., passed away on Wednesday evening, July 30, 2008, at the Morris View Healthcare Center.
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Man gets 13 years for attack on Newton resident
Newton resident Doris Zayacz said she'll never understand why she was targeted for a April 30, 2005, knife attack in her Lincoln Place driveway.
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Man gets 13 years for attack on Newton resident
Newton resident Doris Zayacz said she'll never understand why she was targeted for a April 30, 2005, knife attack in her Lincoln Place driveway.
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Man gets 13 years for attack on Newton resident
Newton resident Doris Zayacz said she'll never understand why she was targeted for a April 30, 2005, knife attack in her Lincoln Place driveway.
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Man gets 13 years for attack on Newton resident
Newton resident Doris Zayacz said she'll never understand why she was targeted for a April 30, 2005, knife attack in her Lincoln Place driveway.
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Man gets 13 years for attack on Newton resident
Newton resident Doris Zayacz said she'll never understand why she was targeted for a April 30, 2005, knife attack in her Lincoln Place driveway.
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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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