Port Elizabeth, 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.
Return to divorce buyout in the state of NJ
| Port Elizabeth, New Jersey News |
Maurice River: Child safety seat checks offered
The Port Norris barracks of the New Jersey State Police will sponsor a child safety seat event at the Port Elizabeth Volunteer Fire Company at 7 Port Elizabeth Cumberland Road between 10 a.m. and 2 p.m. ...
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Franckle new undersheriff
Norm Franckle will be joining the Cumberland County Sheriff's Department in January as undersheriff.
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Port Elizabeth fire may be third in series of arsons
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update: Vacant house catches fire in Maurice River
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Two hurt in Maurice River Twp. crash
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Saluting those who respond to emergencies
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Sea Star lowering bunker surcharge
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Marriage proposal on billboard
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Charles a. Clunn Jr., 91
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Millville woman receives $450K in accident case
A 35-year-old Millville resident was awarded $486,000 by a jury in Cumberland County in a civil case involving injuries she sustained in an April 20, 2004, car accident.
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Afternoon obituary update
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Veterans, mothers remember
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BRITTON-PETERSON
Melanie Spring Peterson, daughter of Rhonda Peterson and John Shearer III and granddaughter of Jean and Joe Tomlin, all of Port Elizabeth, became the bride of Billy David Britton, son of Thelma Crackovich and ...
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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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"Our family would like to thank Somerset Mortgage Lenders for getting us out of foreclosure. Without your help we do not know what would have become of our family. When we first called, we were in Chapter 13 bankruptcy...Not only will we now be able to keep our home, but we'll be able to put ourselves on track financially, thanks to all the efforts of the wonderful people at Somerset. We will be forever grateful to you all." - Scott & Amy
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