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Anton Chico, NM Divorce Buyout in New Mexico

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 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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Anton Chico, New Mexico News
Fugitive of the week: Kathy Harbison

The United States Marshals Service and its Southwest Investigative Fugitive Task Force are currently seeking Kathy Harbison based upon an arrest warrant issued by the U.S. District Court of New Mexico in March ... via KOB-TV


Students shine at state science fair

"Which Ten Pound Test is Best?", entered in the Junior Mathematical Sciences category. Wurtz received an honorable mention in his category. Emily Joy Chapman of Heights Middle School for the exhibit "Plant paradise"

Farmington High School ninth grader Matthew Ketcham explains his science project to the judges during the San Juan Regional Science and Engineering Fair in March. via Farmington Daily Times


Armed Robbers Hit Rio Rancho Businesses

"We just have to be more careful and watch out for each other"

A string of armed robberies has Rio Rancho business owners on alert. The first robbery happened in early March at an Allsup's convenience store on New Mexico Highway 528 and Ridgecrest Drive. via KOAT.com


PRC member Sandy Jones to field questions

Sandy Jones, vice chairman of the New Mexico Public Regulation Commission, will be available from 4 to 7 p.m. Wednesday to hear from local residents. via Las Cruces Sun-News


Tree Give-away

Tree New Mexico is partnering with the City of Albuquerque Parks and Recreation Department to increase the tree canopy in residential areas of the city. via City of Albuquerque


Wallace an - outstanding woman'

"I am very pleased for her and want to congratulate her on this great honor."

State weighs meadow mouse recovery plan An upcoming meeting of the New Mexico Fish and Game Commission will consider adopting a recovery plan for two small rodents listed as endangered under the Wildlife ... via Los Alamos Monitor


State Police Identify Fugitive Kurt Sohrbeck

State of New Mexico Department of Public Safety March 26, 2008 Contact: Peter Olson 827-3361 State Police Identify Fugitive Kurt Sohrbeck Cloudcroft--New Mexico State Police investigators have positively ... via Dps.nm.org


Dry skies prompt forest burn ban

"The Lincoln National Forest, in conjunction with the Bureau of Land Management field office, will enact Stage II fire restrictions for all Lincoln and BLM lands to include Fort Stanton."

The Forest Service said Saturday that increased fire danger in the Lincoln National Forest warrants Stage II fire restrictions. via Las Cruces Sun-News


Environment Department Issues $25,358 Penalty to Owner of Trailer...

"We are concerned about the potential effects of discharges from the trailer court on groundwater"

Environment Department Issues Compliance Order with $25,358 Penalty to Owner of Trailer Court near Taos for Violating State Water Quality Regulations The New Mexico Environment Department issued an ... via New Mexico Environment Department


Rick Homans to lead Tax and Rev department

"I want to welcome Rick Homans back to state government, where I will count on his expertise at the Taxation and Revenue Department"

New Mexico Business Weekly - by Megan Kamerick NMBW Staff Rick Homans is returning to public life. via New Mexico Business Weekly


High Country Gardens to open in two more Jackalope locations

"It's just a natural complement"

New Mexico Business Weekly - by Megan Kamerick NMBW Staff Shoppers at Jackalope locations in Albuquerque now will be able to shop for plants to go with their pottery. via New Mexico Business Weekly


Guadalupe Mountain caves topic of talk

"He'll give the talk in less technical language so you don't have to be a scientist to enjoy it"

Lovers of the Guadalupe Mountains may want to attend a special presentation next week reconstructing the geological history that created the mountains and their caves. via Carlsbad Current-Argus


Environment Secretary Issues Statement on Dine Power Authority and...

"New Mexico's position on this plant is clear; the Desert Rock plant as currently proposed is a step in the wrong direction"

Environment Secretary Issues Statement on Dine Power Authority and Desert Rock Energy Co. via New Mexico Environment Department


Cuban Resort Receives Two Million Visitors

Havana, Mar 18 Cuban tourism destination Jardines del Rey received two million visitors since it began to be commercialized in 1993, said an official communique Tuesday. via Prensa Latina


Weather conditions creating fire hazards

"These dangerously high winds combined with extremely dry conditions will produce a critically dangerous fire weather situation"

Windy conditions, low humidity and rising temperatures are expected to combine to create hazardous fire conditions across the region today and tomorrow, the National Weather Service reported. via Carlsbad Current-Argus


Devour: A Locavore's Guide

How do we know the local-food movement has finally hit its stride? Well here's one big sign: Locavore was chosen as the 2007 Word of the Year by the editors of the New Oxford American Dictionary, beating out ... via Santa Fe Reporter


BOOM - the official resource guide for film industry professionals...

Your Magazine for generating new business with New Mexico's fastest growing industry. via City of Albuquerque


Governor announces 4th Governor's Cup Competition for NM filmmakers

New Mexico Governor Bill Richardson recently announced a call for entries for the Governor's Cup 2008 Short Animation Competition. via Carlsbad Current-Argus


Chamber presents corporate citizenship awards March 18

The Greater Albuquerque Chamber of Commerce will host its fourth annual corporate citizenship awards on March 18 in Albuquerque. via New Mexico Business Weekly


Mother Road Theatre Company Presents: an Evening with Alan Arkin & Friends

In a rare public appearance, Alan Arkin will be performing readings from his own works accompanied by actors Jonathan Richards of Santa Fe and Sean Kernan of New York City. via City of Albuquerque


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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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