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Alto, NM Divorce Buyout in New Mexico

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 Mexico, 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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Alto, New Mexico News
Swiss Chalet to be renovated

An aging, but popular motel, the Swiss Chalet, will be renovated and converted into a two-story condominium project by combining two and three units.


Deer Park Valley helps fund road project

Property owners in Deer Park Valley coughed up $25,000 as a guarantee required by the Lincoln County Commission before moving ahead on a road improvement project in their community.


Staging Sweeney

The effort put into the production of Sweeney Todd, the Demon Barber of Fleet Street at the Spencer Theater over the course of the past week proves that point to a "T." Thursday night, the national tour of ...


Fall burning operations set to begin

The Ruidoso Fire Department, with cooperation from New Mexico State Forestry and the U.S. Forest Service, will begin its fall prescribed burning operations the week of Sept.


County values jump

The village of Ruidoso and the area outside Capitan led Lincoln County communities in new development property value growth this year.


Garage sale in Lincoln

It has been an interesting two weeks. Ralph and I accidentally met an old college classmate of Ralph's at the Wortley Hotel.


Sheriff makes drug arrest

An undercover operation netted an arrest for one Ruidoso woman on charges of drug trafficking.


NM Cultural Affairs partners with Spencer Theater

ALTO, N.M. The state Cultural Affairs Department and the Spencer Theater for Performing Arts have entered into a partnership in which the state will take over the facilities and grounds of the southern New ...


State creates public/private partnership for Spencer Theater

Gov. Bill Richardson announced a new state partnership with the Spencer Theater for the Performing Arts near Ruidoso.


Ruidoso flood

The deluge of rain that slammed Ruidoso last weekend was hit-or-miss for some Odessa residents who were in the area.


Performances and Special Events

Free concert is at 8 p.m. at Billy's Sports Bar and Grill. Info: 378-4431. Titovets July 26: Ann Buell Fine Art presents Aleksander and Lyuba Titovets in a two-person show and sale.


Lots to do in the area to celebrate Fourth of July

Cities and towns all over New Mexico and West Texas are planning big and little bashes for the Fourth of July weekend.


Proposed Ruidoso luxury resort draws residents' ire

Wagging a verbal finger at Ruidoso village councilors Tuesday, business owner Jennie Dorgan challenged them to show that they can meet future water supply needs of existing residential lots before approving a ...


Tularosa storm expensive for some

A metal sheet from a barn, in the background, clings to a mesquite after Wednesday's evening microburst storm in Tularosa.


Big-name artists, family shows to fill NM venue

Anyone who sees the Spencer Theater for the Performing Arts in Alto, N.M., just outside Ruidoso, takes note of its unusual shape.


Lodgers tax funds allocated

Ruidoso Village councilors last week approved $60,030 from lodgers tax money to pay for promotion and advertising of special events.


the Community Page

Members of the Lincoln County Bird Club plan a field trip to the Valley of Fire area near Carrizozo Thursday. via Ruidoso News


Humane Society may get new home

"Last year, we accepted 1,600 cats and dogs at a facility built for a maximum of 65 animals."

Some of the village-owned land below Grindstone Reser-voir could become the future home of a new dog park, memorial park and adoption center operated by the Humane Society of Lincoln County. via Ruidoso News


Cavemen, Cavegirl golfers compete at Ruidoso tourney

The Cavemen and Cavegirl golf teams completed play Monday in Day One of the Leroy Gooch Tournament in Ruidoso. via Carlsbad Current-Argus


State Police Obtain Arrest Warrant for Kurt Sohrbeck

State of New Mexico New Mexico State Police March 17, 2008 8:00 p.m. Contact: Lieutenant Rick Anglada Public Information Officer Pgr. via Dps.nm.org


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