New Lisbon, 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
| New Lisbon, New York News |
Births for October 31, 2008
Kelly and Tyler Post of Otego announce the birth of a son, Carter Merrick Post, born July 31 at A.O. Fox Memorial Hospital in Oneonta.
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Drilling on hold in town
The town of New Lisbon has adopted a six-month moratorium on drilling for natural gas, Supervisor Robert Taylor said Friday.
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Births for September 24, 2008
The following births were recently recorded at A.O. Fox Memorial Hospital in Oneonta: Aug.
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Pound of pot leads to felony arrest
A local woman was charged with a felony after about a pound of marijuana was found at her home, Otsego County deputies said Wednesday in reporting a probation violation arrest.
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More than 1,500 sign gas leases
List of signed leases in Otsego, Delaware counties By Tom Grace Cooperstown News Bureau COOPERSTOWN _ The gas rush continues.
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Four-wheeler rolls, kills area farmer
A Morris man tending to a sugar bush on his family's farm in New Lisbon died Friday when his four-wheeler rolled on top of him, according to the Otsego County Sheriff's Department.
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Main Headline
A Donald Moore, 44, of Oneonta, pleaded guilty to third-degree rape. According to court records, the incident occurred April 24, 2007, in the town of New Lisbon, and involved a person younger than 17. via Daily Star
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Tishman Speyer Snags Large Manhattan Lease Renewal
Carlton has closed successfully a $63 million floating rate, three-year bridge loan for the acquisition and repositioning of Fort Lee Executive Park, a 609,000 square foot class A office complex located 10 ... via Commercial Property News
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Letters for April 16, 2008
"It promotes a religious perspective of sexuality and is unconstitutional." Global demand is driving local food prices through the roof. Yet, here in upstate New York we're surrounded by productive farms that grow reasonably priced fresh fruits and vegetables. via Daily Star
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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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