Selden, 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
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Police Record
* David R. Heasley, 53, of Chemung Street in Waverly, was arrested Sept. 19 on a warrant charging him with felony aggravated driving while intoxicated. Heasley was indicted on July 14 in Tioga County Court and failed to appear at a scheduled court appearance on Aug. 15, police said. * The police department is warning residents about a scam. A Waverly village resident reported receiving on Sept. 19 a fraudulent cashier's check for $2,890. Police said the resident answered a newspaper ad for Excell Employment and attempted to cash a check from Digital Federal Credit Union of Hudson, Mass. The Waverly resident was instructed to cash the check, keep $200 and send the rest of the money to another person in Canada. * Abraham E. Shammah, 39, of East Second Street in Corning, was charged Sept. 20 with first-degree falsifying business records. * Bryan J. McDonough, 49, of Spruce Street in Selden, N.Y., was charged Sept. 20 with driving while intoxicated and driving with a blood-alcohol content of .08 or higher. * George P. Vargeson, 33, of West First Street in Corning, was charged Sept. 19 with driving while intoxicated. * Bobby Jordan, 48, of Painted Post was charged Sept. 12 with driving while intoxicated after a traffic stop in Erwin. * Jason Goodreau, 37, of Addison, was charged Sept. 10 with driving while intoxicated after a traffic stop in Campbell. * David Magee, 39, of Corning, was charged Sept. 13 with driving while intoxicated after a one-car property damage accident. * Jeffrey Johnston, 223, of Painted Post, was charged Sept. 13 with driving while intoxicated after a traffic stop in Erwin. * Kenneth Grover, 39, of Campbell, was charged on Sept. 14 with driving while impaired after a two-car crash in Campbell. * George Andrews, 38, of Addison, was charged on Sept. 15 with driving while intoxicated after a traffic stop in Tuscarora. A passenger in his car, Jason Andrews, 37, was charged with two counts of fourth-degree criminal possession of a weapon. * Joshua Holden, 24, of Dundee, was charged Sept. 19, with fourth-degree grand larceny, fourth-degree criminal possession of stolen property and unlawful possession of marijuana after deputies executed a search warrant on an outbuilding located on his property. The Star-Gazette Police Record reports felony arrests. The record also includes misdemeanors and major traffic violations that are related to crimes against children or crimes involving drugs or alcohol. The addresses listed in record items -- the last known residence of the accused or the address the person gave to law enforcement officers -- are obtained by the Star-Gazette from police or court records.
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Cops: Girl, 16, killed in Holtsville drunken driving crash
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Selden girl dies when SUV overturns
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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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