Port Republic, 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
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In Your County for Dec. 1, 2008
The Academy of Culinary Arts at Atlantic Cape Com- munity College will sponsor Breakfast with Santa from 8 to 9:45 a.m. Dec.
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Port Republic may replace purple house with community center
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The Dan Kelly Ultra-Marathon
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Sea Turtle Hospital News
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Women's Soccer: Edmonds Earns Big East Honor After Five-Point Weekend
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Klan literature distributed in Port Republic, Galloway
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Women's Soccer: Rutgers Finishes In Scoreless Tie With Cincinnati On Senior Day
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At the Shore Today Main Events
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Wildlife agencies may migrate to Galloway Twp.
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Art News By Bobbi Seidel
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Answer Guy: Nacote Creek
A weekly feature that answers reader questions about the people, events, history and news in southern New Jersey.
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Births
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Happenings
The Mays Landing branch of the Atlantic County Library will celebrate its 25th anniversary at its present location on Farragut Avenue.
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Officials calling Avalon beach pollution sabotage
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Fight over State Police bills is on
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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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"Every other company said they could not help us. After speaking to about five companies, we really believed that no one could. Then we called Somerset, and your company proved us and those other companies wrong. We can't thank you enough for all your hard work and effort in getting us a low fixed rate. We can now breathe easier..." - L. Braun
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