Aragon, 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.
Return to divorce buyout in the state of NM
| Aragon, New Mexico News |
Paublita Gutierrez
Paublita Padilla Gutierrez, 85, a lifelong resident of Aragon, N.M., entered into eternal rest Monday, May 5, 2008, in Aragon. A prayer vigil was at 6 p.m. Friday, May 16, 2008, led by Juan Aragon. A funeral mass was Saturday, May 17, at Santo Nino Church. The rite of committal and internment was at the Aragon Cemetery. Paublita was born Jan. 26, 1923, in Aragon, to Lorenzo and Marcelina (Romero) Padilla. She was employed by the Senior Program and Goodwill Industries of New Mexico in Reserve, N.M.
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Blaze burns up to 600 forested acres in central N.M.
"It didn't have any of the significant torching or running up hill, so that was a really good thing for us" Firefighters were struggling Wednesday to corral a blaze that has burned 400-600 acres in steep, rugged terrain in central New Mexico's Manzano Mountains. via Las Cruces Sun-News
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Domenici says goodbye
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County hears MainStreet update
"However, the commission still needs to approve the funds" "Both the Fire and Ice Motorcycle Rally and the holiday Electric Light Parade have grown by leaps and bounds," MainStreet President Donald Jaramillo told the Cibola County Commission at its Monday meeting. via Cibola County Beacon
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Domenici's retirement top AP story in N.M.
When powerful Republican U.S. Senator Pete Domenici disclosed he has an incurable brain disease and will retire, his announcement touched off a domino effect that saw all three of New Mexico's U.S. House ... via KOB-TV
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Forest Service wants your opinion
"The Cibola National Forest includes forests in the Sandias, Manzanos, San Mateos, Gallinas (mountains) and Mt. Taylor as well as areas around Datil" How do you use National Forest recreational facilities and what would you like to see changed or improved? Those are the questions being posed by the Mt. via Cibola County Beacon
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Officers will conduct heavy patrols
"The mastermind behind the plan was Sgt. Rick Doty" The New Mexico State Police are serious this year about keeping drivers and their passengers safe while traveling on I-40 this holiday season. via Cibola County Beacon
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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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