Tyrone, 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
| Tyrone, New York News |
Boat capsizes on Waneta Lake; man, 80, swims to safety
A boat capsized this morning on Waneta Lake, sending an 80-year-old man who was fishing into the water, but he was able to swim to safety, the Steuben County Sheriff's Office said.
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Schuyler housing problems examined
Adequate housing is seriously lacking in Schuyler County, officials say, and a long-anticipated study to determine the extent of the need and how to deal with it is under way.
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Pot Bust in Schuyler County
September 18, 2008 WATKINS GLEN--A drug investigation in Schuyler County turns up hundreds of pot plants.
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Real estate transactions
Real estate transactions are public records obtained by the Star-Gazette from deeds on file in the county clerks' offices.
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Travel, at its heart, is about connections. A trip to Rome might be connecting with history, or with really nice shoes.
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Eagle Scout project helps out firefighters
The Tyrone Fire Department is benefiting from a Boy Scout Eagle project by one of the town's own residents.
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Eagle Scout project helps out firefighters
The Tyrone Fire Department is benefiting from a Boy Scout Eagle project by one of the town's own residents.
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Get out and enjoy the summer months
At 11:42 a.m. on Tuesday, June 24 the last dahlia was planted! That finally finishes the gardens for this year.
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Starr Report
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"Telectroscope" Connects London, NYC
Lorena Yeves, left, 21 of Manhattan, and Elizabeth Castillo, 21 of San Pedro, Ca.
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Seniors enjoy food, fun at Monterey church
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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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"Every other company said they could not help us. After speaking to about five companies, we really believed that no one could. Then we called Somerset, and your company proved us and those other companies wrong. We can't thank you enough for all your hard work and effort in getting us a low fixed rate. We can now breathe easier..." - L. Braun
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