Lovington, 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
| Lovington, New Mexico News |
Sanchez, Shoobridge seek District 3 judgeship
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NM-02: Harry & Troy Teague and Gov. Richardson to Rally Early Voters Saturday
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Van of Enchantment
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Attempted Murder in Hobbs
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Mexican native achieves goal of US citizenship
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Wayland senior shares language, God's love in Thailand
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County manager contract approved
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Pouncy, Akin married
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In brief: Ohio man charged in '07 slaying of Jal man
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Bill St. John named July Knight of the Month
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Eastern N.M. New Deal-era buildings added to national listing
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Lea County hires new manager
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Ex-Lovington officer charged with murder
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Education Feature: Radiological technology students complete program
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Last of the Byers in Lovington
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Lovington school board prohibits facial hair on students
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Clovis task force to review animal euthanasia
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New numbers give Hicks win in D.A. race
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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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