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Phillipsburg, NJ Divorce Buyout in New Jersey

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 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.

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Phillipsburg, New Jersey News
Hundreds gather in Shappell Park for Phillipsburg Christmas tree lighting ceremony, visit from Santa

Two-year-old Carter Chadwick-Melvin, right, of Phillipsburg, is greeted by Santa after Santa disembarked from fire truck at Shappell Park in Phillipsburg Monday night.


Trio of alleged meat thieves foiled by getaway car's empty gas tank

Two men and a woman made off with a heap of packaged meat Sunday night from a Giant supermarket, police said.


Phillipsburg Urban Enterprise Zone incentive program widens while...

In an effort to encourage businesses to set up shop on South Main Street, without excluding those elsewhere in town, the Phillipsburg Urban Enterprise Zone board is revamping its tenant incentive program.


Dozens give thanks over meal at Phillipsburg church

People wait to be served for dinner at the River of Life Church in Phillipsburg.


United Way of Warren County challenges residents to raise money for families in need of heat

The United Way of Warren County on Monday announced a $20,000 grant to help families in need with energy and housing costs.


Continue reading "Phillipsburg quarterback Justin Scuorzo to miss rest of season"

Justin Scuorzo will miss the Thanksgiving Day game against Easton for the second straight season.


11-21 PTK Inductees

The following individuals were inducted: Rebecca Freiday of Alpha; Sarah O'Malley and Jamie Parker of Belvidere; Rachel Degwitz and Tatiana Lesiv of Blairstown; Vanessa Scott of Bushkill, PA; Margaret Strakele ...


William Gleason

11/16/2008 12/16/2008 Bethlehem PA BETHLEHEM, Pa. -- William Gleason passed away on Friday, Nov. 14, 2008, at the Brakeley Park Care Center in Phillipsburg. He was 83. He was born in Bronxville, N.Y. He lived most of his life in Parsippany before moving to Bethlehem one year ago. Bill served in the Navy during World War II from Jan. 18, 1943, until being honorably discharged on Jan. 19, 1946. He was the building and construction official for the Township of Parsippany for 37 years before retiring in 2003. Bill was selected Building Inspector of the Year in 2000 by the Building Inspectors Association of New Jersey and the state Department of Community Affairs. He was also involved in the committee that created the state's current Uniform Construction Code. He was a member of the American Legion Post 249 and District 4 Fire Department, both in Parsippany. He enjoyed golfing and fishing. Bill was predeceased by his loving son, Brian, who passed away on Nov. 19, 1984. Survivors include his beloved wife, Eileen (Smith); his loving children, Barry, John, Eugene and Dr. Robert Gleason and Maureen Weiner; his dear sister, Jane Brady; and his 14 cherished grandchildren. Relatives and friends are invited to attend the Liturgy of Christian Burial to be offered at 11 a.m. on Wednesday, Nov. 19, 2008, at St. Peter the Apostle Roman Catholic Church, 179 Baldwin Road, Parsippany. Cremation is private. Visiting hours are on Tuesday from 2 to 4 and 7 to 9 p.m. at the Par-Troy Funeral Home, 95 Parsippany Road, Parsippany. (973) 887-3235 or visit www.partroyfuneralhome.com. In lieu of flowers, please make donations in his memory to the American Cancer Society, 7 Ridgedale Ave., Cedar Knolls, N.J. 07927.


As promised, Santa Claus comes to town

Santa Claus shakes hands with Matthew Lague, 5, of Phillipsburg today during a visit to Phillipsburg Mall in Pohatcong Township.


Memorial at Phillipsburg High School honors local World War II hero Martin O. May

Terry Calandra hopes the students who will regularly pass by the memorial outside Phillipsburg High School take a few moments to think about the World War II hero it is meant to honor.


World War II veteran honored with Phillipsburg High School monument

Veteran Ron Adams, of Phillipsburg, takes a close look at the inscription on a monument for Purple Heart recipient Martin O. May, who was killed in action during the invasion of Okinawa, Japan.


Nj Volunteer efforts for nature path along Delaware River in...

Longtime advocates for a nature path along the Delaware River and the preservation of the Morris Canal archway are finally due to witness some progress.


Two Phillipsburg residents injured after crash with tractor-trailer on Route 519 in White Township

A man and woman from Phillipsburg were injured Thursday afternoon when their van struck the rear of a tractor-trailer that was turning into the parking lot of the Warren County jail.


Phillipsburg police bust marijuana operation that operated near school

Tasha Roberts, 29, is arrested during a drug raid Wednesday night at a home in the 200 block of Hudson Street in Phillipsburg.


Man charged with sexual assault of child

A Phillipsburg man was arrested Monday on charges of aggravated sexual assault, sexual assault and endangering the welfare of a child, police said.


Continue reading "N.J. gas prices on decline, below $2 a gallon at some Phillipsburg stations"

Gurnam Chand pumps gas for a customer Wednesday at the BP station on South Main Street in Phillipsburg.


Phillipsburg man indicted in home-invasion rape and juvenile co-defendant to be tried as adult

A Warren County grand jury on Wednesday indicted a teenager in the January robbery of a Phillipsburg woman who was raped at gunpoint during the incident.


A parade of thanks for Hallowfest

Hallowfest 2008, Phillipsburg's and Easton's annual Halloween parade, was a great success thanks to the cooperation of so many supporters, participants and sponsors.


Daniel Lair of Phillipsburg, right, (U.S. Army) receives his diploma

PHILLIPSBURG, NJ NOVEMBER 9--HONORING VETERANS--Lt. Col. John Sheard of the New Jersey Army National Guard, left, salutes Daniel Lair of Phillipsburg, right, after giving him his diploma during a ceremony ...


Veterans Honored in Many Ways During Phillipsburg Celebration

Recognition of honor. For a soldier, it's perhaps the highest tribute they can receive.


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