Richfield Springs, 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.
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| Richfield Springs, New York News |
Business Beat: Open-house event planned in Cherry Valley
Cherry Valley businesses will have their annual holiday open-house program Sunday.
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Mother, son flee burning trailer
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Price Chopper beginning to take shape in Madison
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Ex-interim postmaster is arrested
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Rabid bull dies in Richfield Springs; Rabid skunk in Town of Herkimer
On November 12th, 2008, Herkimer County Public Health received laboratory confirmation of rabies in a skunk killed by the homeowner on Burt Road in the Town of Herkimer, after the rabid skunk had attacked a pet ...
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Paul M. Renckens III
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Lambert ousts Ghaleb
Republican John Lambert was elected Otsego County judge Tuesday, defeating incumbent Judge Jhilmil Ghaleb.
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Letters for November 03, 2008
Think critically, not according to myth This letter is in direct response to the letter by John Pasquale published Oct.
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What's Happening - October 23, 2008
Non-commercial events only. Readers who wish to list an event in What's Happening should email information to crier@csdsl.net, mail to The Town Crier, 21 Railroad Ave., Cooperstown, NY, 13326, or fax to ...
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Care worker allegedly took credit card
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Step Back in Time
Step Back in Time features community news from The Daily Star 25 and/or 50 years ago.
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Step Back in Time
Step Back in Time features community news from The Daily Star 25 and/or 50 years ago.
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St. Johnsville police charge 3 in b.....
Village police have arrested three men accused of attacking a man at his home, and a woman has been charged with obstructing the investigation.
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Step Back in Time
Step Back in Time features community news from The Daily Star 25 and/or 50 years ago.
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Lambert wins nod in judge primary
In a preview of the county judge race, John Lambert beat interim Judge Jhilmil Ghaleb in the Conservative Party primary Tuesday.
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Step Back in Time
Step Back in Time features community news from The Daily Star 25 and/or 50 years ago.
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Letters for September 04, 2008
Area needs enterprise "Small business people who have survived the years may see business problems more clearly, but they are no better positioned than other residents to reach out to people with the money and ...
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Conservatives to cast votes Tuesday for judge
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Ex-clerk allegedly stole from Otsego
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Route 66 Pulse flatlining
Route 66 Pulse's second issue. Barring a "small miracle," the Route 66 Pulse newspaper will cease publication after its current issue.
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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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