|
|
Reverse Mortgage
Divorce Buyouts
Debt Consolidation
Home Improvement
Purchase
Refinance
|
|
|
Ashland, 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
| Ashland, New York News |
EDITORIAL: Openness always a board's best course
Dr. John Gratto seems to have run afoul of another school board he's working for, and some lessons for all boards, administrators and residents have emerged from it.
|
Potholes reported; sidewalk poses a problem
"As you know, there is a lot of foot traffic in this area of Elmwood Village." East Side, West Side, all around the town; Fix It receives complaints from all over Western New York. via Buffalo News
|
On The Bright Side: Catskill teachers learn to connect students, history
"I heard a contractor say once that you have to learn to think like water" ARKVILLE _ A group of teachers gathered at the Catskill Center for Conservation and Development on Tuesday to learn how to connect their students with the land and heritage of the Catskills. via The Daily Star
|
BLOTTER: Police reports published Jan. 5
Niagara Falls * DRUG CHARGES: A Falls woman was arrested on drug charges. Jayne L. Jones, 39, 5599 Ninth St., was charged with seventh-degree criminal possession of a controlled substance. via Niagara Gazette
|
|
With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
| |
"...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.
|
|
|
|
|
|
© 2006 Somerset Investors Corp. All rights reserved. |