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Athena, OR Divorce Buyout in Oregon

Since 1979 Somerset Mortgage Lenders Co. has been considered a leader in the residential mortgage lending business and is currently licensed in 26 states, including Oregon, 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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Athena, Oregon News
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Thunderstorms moving through northeast Oregon today started about 50 fires on lands protected by the Oregon Department of Forestry and in the Umatilla National Forest, fire officials said.


New Acropolis Museum due to open in October but without its star attraction

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New Acropolis Museum due to open in October but without its star attraction

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Oregon State Police have identified a motorcyclist killed in a collision with a pickup on Oregon 11 at the Athena Junction in northeast Oregon Saturday.


Motorcyclist killed on Oregon 11 identified

Oregon State Police have identified a motorcyclist killed in a collision with a pickup on Oregon 11 at the Athena Junction in northeast Oregon Saturday.


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Calendar: June 18, 2008

All items are assumed free, nonprofit and open to the public unless otherwise noted.


Lori Thomas Inducted into Cambridge Who's Who Executive, Professional and Entrepreneurial Registry

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Athena-Weston superintendent finds new home

The Hermiston School District has hired Brian Schimel, superintendent of the Athena-Weston School District, to become the Hermiston district's district assessment coordinator.


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Greek Festival Planned

George Greek Orthodox Church, 301 W. Main St. All indoor activities will take place in the church's Cultural & Education Center.


Indie retailers gravitate toward West End

"Singer has a great retail eye and he's very supportive of local businesses"

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Today's digital mural

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Rain doesn't dampen Soul Food Feast

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Athenians enjoy the food and music at the eighth annual Hot Corner Celebration and Soul Food Feast on Saturday at the corner of Hull and Washington streets in downtown Athens. via Athens Banner-Herald


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Last week's U.S. Supreme Court decision upholding a Washington election reform law kept the door open for a similar initiative in Oregon to do away with the political party primary election nomination process. via Statesman Journal


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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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