Allegany, NY Divorce Buyout in New York
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 York, 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 NY
| Allegany, New York News |
Amish families told to substantiate claims on sewer systems
Two Amish families who have appealed Cattaraugus County Board of Health orders in August to install small sewage systems must now document their church regulations and substantiate their claims that the systems ...
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Driver indicted in wife's death
A Cattaraugus County grand jury on Thursday reported six open indictments, including the case of a Bradford, Pa., man charged with vehicular manslaughter in the death of his wife.
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More international flavor at Taste of Olean this year
Admission to Sunday's Taste of Olean and Art in the Park festival at the Cattaraugus County Campus of Jamestown Community College is free.
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Genealogy Query - WRIGHT
Looking for parents of Issac Wright,born about 1806 in Connecticut and died in 1893 in Allegany, NY.
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Allegany couple charged with welfare fraud
An Allegany married couple has been charged with welfare fraud for allegedly obtaining $3,126 fraudulently from the Department of Social Services, the Cattaraugus County Sheriff's Office reported today.
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County has a comfy money cushion
Cattaraugus County's surplus climbed to more than $22.2 million in 2007, an increase of just over $2 million, county lawmakers learned Wednesday.
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Construction workers on Buffalo Creek Casino site busy shutting it down
Those passing by the Seneca Buffalo Creek Casino might wonder what all the fuss was about Wednesday when Seneca Gaming Corp.
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New display features veterans of WWII
Cattaraugus County's World War II veterans are being featured in a new display in the Cattaraugus County Historical Museum and Research Center.
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Indian casinos expand in 2007
New York's tribally owned casinos continued to expand during 2007, resulting in more revenue for both the state and the three Indian nations that operate gambling facilities.
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Old-time rides are a bicentennial hit
Crowds lined city streets Wednesday as they have across Cattaraugus County to welcome the county's Bicentennial Wagon Train and Stage Coach Run.
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Bicentennial Wagon Train on a roll
A large crowd is anticipated here today for the arrival of Cattaraugus County's Bicentennial Wagon Train and Stagecoach Run on the 12th day of its 180-mile tour of the county.
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Bridge to reopen in time for festivities
Cattaraugus County's Bicentennial Wagon Train and Stagecoach Run will pull into the city Wednesday, passing through a replicated 1908 Centennial Arch and just in time for the reopening of the Route 353 bridge ...
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Grand jury to hear case against teen accused in stabbing
Evidence will be heard by a Cattaraugus Grand Jury in the case against a 17-year-old accused of stabbing a 41-year-old man at a local hotel.
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Senecas may slow expansion of casinos
The Seneca Gaming Corp. is hinting at a slowdown in its fast-paced expansion efforts, despite a nearly 10 percent rise in its third-quarter net income.
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Senecas pay state casino share
The state of New York will soon be receiving some mail from the Seneca Nation of Indians in the form of a $57.3 million check.
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Firefighter ice rescue team honored for saving man
A firefighter ice rescue team from Farmersville and Franklinville is receiving the annual award of Firefighter of Year from the Southwestern Association of Volunteer Firemen today.
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Kathleen Karl looking forward to 75th school reunion
One of Kathleen Karl's last memories about high school was 33 seniors putting on arm bands and walking around Allegany to celebrate the last day of school in June of 1933.
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100th fire convention begins in Olean
WESTON'S MILLS - The first of an estimated 1,500 volunteer firefighters, families and friends descended on Weston's Mills Wednesday for the first day of the 100th anniversary convention of the Southwestern ...
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The make or break hobby
Darrell Gronemeier/Olean Times Herald Slot machines like the ones shown here at the Seneca-Allegany Casino are all the more luring thanks to the casino's proximity in the Twin Tiers.
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Eaton challenging Giglio
At age 53, Patrick Eaton is looking for a new challenge. A businessman and Allegany town supervisor for the past five years, Mr.
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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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"Our family would like to thank Somerset Mortgage Lenders for getting us out of foreclosure. Without your help we do not know what would have become of our family. When we first called, we were in Chapter 13 bankruptcy...Not only will we now be able to keep our home, but we'll be able to put ourselves on track financially, thanks to all the efforts of the wonderful people at Somerset. We will be forever grateful to you all." - Scott & Amy
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