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Reverse Mortgage
Divorce Buyouts
Debt Consolidation
Home Improvement
Purchase
Refinance
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Rock Tavern, 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
| Rock Tavern, New York News |
V-Force raises $2,000 for Big Brothers Big Sisters
Ride for a Child Hope partners included from left, Steve Caporaso, area vice president of K. Hovnanian Homes, Cody Connelly and Vinnie DiMartino of V-Force Customs, and Nancy Kosloski, executive director, Big ...
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Local bike 'choppers' revving up for win
Jim and Andy DeBaise have their disagreements like any siblings, but the brothers insist they're nothing like the feuding Teutul family, which put the custom motorcycle-building business on America's pop ...
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Agency buying 50 2-deck cars
Relentlessly growing ridership is prompting NJ Transit to buy more of its popular double-decker cars to boost capacity on trains that travel to Pennsylvania Station in Manhattan.
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Man accused of stealing from armored-car company
A Walden man stole more than $8,000 from a company that deals in the safe transportation of cash, town police said.
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Police say man raped girl when she was 7 years old
State police arrested a Rock Tavern man on a felony rape charge, alleging he had sex with a seven-year-old girl in Mount Hope in the summer of 2000.
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Cops: 3 living in car arrested in Ramapo store parking lot
AIRMONT - Three people who were apparently living in a car parked in the Wal-Mart parking lot are awaiting arraignment this morning on stolen property and drug charges, Ramapo police said.
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Odd face haunting mysterious deaths
"Unfortunately, the majority of bodies found in water are assumed to have drowned since there is no other obvious cause of death." The suspected serial killings of 40 young men nationwide have brought together two detectives in Rock Tavern, drowning experts in Hurley and a distraught family in Kingston. via Recordonline.com - The Times Herald-R...
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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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