Elmsford, 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
| Elmsford, New York News |
Wintry weather, crashes snarl holiday traffic
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Winter weather causing crashes throughout area
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Westy Self Storage assists groups with donation drive
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Photo Gallery: Chemical Spill
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Elmsford: Route 9A reopened after toppled pole is cleared; phones restored
A toppled utility pole closed Route 9A between Route 119 and Interstate 287 for more than three hours this morning and disrupted telephone and electric service in Elmsford, Greenburgh police Lt.
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ELMSFORD - A toppled utility pole closed Route 9A between Route 119 and Interstate 287 for three hours and disrupted telephone service and electricity in Elmsford yesterday morning.
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Elmsford: Toppled utility pole closes 9A and stops police phone service
ELMSFORD - A toppled telephone pole has closed Route 9A between Route 119 and Interstate 287 and disrupted telephone service in Elmsford, Greenburgh police Lt.
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Around the table
Diana Gould makes a final check of her holiday table, a sumptuous design in vivid reds and rich golds.
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Plate work shifts to Rockland-bound side
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Musical Mentees
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Oil customers feel burned on bad deals
Eugene and Christine Coppola of Yonkers thought they were making a sage, money-saving decision back in June when they agreed to pay $4.699 a gallon for home-heating oil to get their family through the coming ...
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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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