Las Cruces, 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.
Return to divorce buyout in the state of NM
| Las Cruces, New Mexico News |
Lower Las Cruces Flood Rating Helps Homeowners
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Pecan harvest waiting on cold snap
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Three men stabbed at party Saturday
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LCPD officer shoots man who ran him over
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NM unemployment up from September
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Southern NM watches health care industry grow
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15-year sentence in Rainbo attack
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New chile varieties have more flavor and aroma
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Las Cruces Couple Arrested For Theft from Office Max
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Teen sentenced to 15 years for Rainbow Bakery attack
Edward de la Cruz, 17, was sentenced this morning to 15 years behind bars in an adult prison for the the September, 2006 beating of a woman during a botched bakery store robbery.
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Governor names 3 new regents at NMSU
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Drive-by shooting lands two men in jail
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Fair play in attempted armed robbery of off-duty deputy
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New White Sands commander feels strong connection to community
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Murder suspect turns self in accidentally
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Las Cruces Man Arrested For Allegedly Sexually Assaulting Children
Las Cruces Police have arrested a man on 10 counts of sexually assaulting three girls under the age of 16.
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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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"...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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