Ballston Lake, NY Divorce Buyout in New York
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 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
| Ballston Lake, New York News |
A special homecoming
The Persons family, from left, Gavin, age 10, Elizabeth, Andy, age 7, Pastor Darren holding 9-month-old Titus and Lucas, age 3, prepare Thanksgiving decorations in their new home Wednesday.
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Lending a hand for the holidays
Spotlight News is news that affects the reader: local events, local taxes, local politics, local schools, local business, friends and neighbors.
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Peace by piece
The Burnt Hills-Ballston Lake Rotary Club hosted Priscilla Fairbank as a guest speaker this past week.
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Burnt Hills rallies to beat Nyack, 14-13, in state football semifinal
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Shen boys seeking Fed meet three-peat
The Shenendehowa boys will be chasing their third straight New York State Federation championship and their fifth since 2002 when the Fed meet is held Saturday at Bowdoin State Park in Wappingers Falls.
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Flooding damages district office
Flooding damages district office Posted on: 11/14/08 Charles Wiff, Spotlight Staff email: wiffc@spotlightnews.com It seems like the Burnt Hills-Ballston Lake School District can't catch a break this year.
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Accused school counselor worked at The Albany Academies
A woman accused of lying about her credentials to get hired as a counselor for Burnt Hills-Ballston Lake schools recently had been employed at The Albany Academies, school officials confirmed Friday.
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X-country: Spartans sweep boys, girls Class A titles
Section II cross country teams fared well Saturday at the New York State Public High School Athletic Association state meet championships at Sunken Meadow State Park, with a number of boys and girls teams ...
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Burnt Hills-Ballston Lake school district faces costly flood cleanup
District spokeswoman Christy Multer said the initial estimate that repairs could be completed at the Hostetter Building within weeks proved to be optimistic.
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Ex-Burnt Hills school social worker accused of faking credientials
State Attorney General Andrew M. Cuomo said Maria Geizer, 38, of Grand Avenue, Saratoga Springs, lied on her 1999 application for employment as a social worker with Community Human Services of Glenville, which ...
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Water main break relocates BH-BL workers
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Flood destroys local schools
A water main break has shut down a school that provides resources for children afflicted with autism.
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Driver in Route 4 crash in critical condition
The Maryland man who police believe caused Monday's car and dump truck crash on Route 4 in Whitehall was in critical condition Tuesday, officials said.
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Route 4 reopened after crash
Note: 9:15 p.m. Updated with names of drivers; 9:55 Corrected directions, color of vehicle WHITEHALL - Route 4 and 22 in Whitehall was closed this afternoon as police investigated a three-vehicle crash that ...
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Organized approach can lessen anxiety over college search
The Donnelly family, visiting the campus of the College of Saint Rose last month, gathers outside the school's Massey Center for the Arts amid trees in full foliage.
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Burnt Hills-Ballston Lake, Queensbury runners clash
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Students roll out a DWI drama
Luc Bechard wheeled a man into the operating room Friday afternoon and hooked him up to a machine.
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Retiring may have to wait
James Mitchell of Ballston Lake, left, waits as College of Saint Rose student Lou Pingotti, 17, of Middletown, signs an AARP form Wednesday.
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Classes out for school polling sites?
School officials and parents across the nation are turning an increasingly critical eye on the time-honored tradition of voters casting ballots in the gymnasiums and hallways of neighborhood school buildings ...
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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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