Somerset Mortgage Lenders Mortgage Refinance, Reverse Mortage, Home Loan
  Reverse Mortgage Divorce Buyouts Debt Consolidation Home Improvement Purchase Refinance
Search Somerset:
Print this page    E-mail this page

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.

Local divorce buyout directory for NY :
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Accord Allegany Andover Ashland
Acra Allentown Angelica Ashville
Adams Alma Angola Astoria
Adams Basin Almond Annandale on Hudson Athens
Adams Center Alpine Antwerp Athol
Addison Alplaus Apalachin Athol Springs
Adirondack Altamont Appleton Atlanta
Afton Altmar Apulia Station Atlantic Beach
Akron Alton Aquebogue Attica
Albany Altona Arcade Au Sable Forks
Albertson Amagansett Arden Auburn
Albion Amawalk Ardsley Auriesville
Alcove Amenia Ardsley on Hudson Aurora
Alden Amityville Argyle Austerlitz
Alder Creek Amsterdam Arkport Ava
Alexander Ancram Arkville Averill Park
Alexandria Bay Ancramdale Armonk Avoca
Alfred Andes Arverne Avon
Alfred Station

Return to our divorce buyout page

Bad Credit? click here.

Call for COMPLETE details NOW!

(800) 675-9783

Save time with our easy online mortgage application.
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.
home | about us | Mortgage Blog | contact us | privacy policy | state licensing | search | links | link to us | site map
mortgage calculators | refinance | purchase | fha | reverse mortgage | divorce buyout | debt consolidation
Eqaul Housing Lender Member of the Better Business Bureau (BBB) Member of the National Reverse Mortgage Lenders Association (NRMLA)