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Aumsville, 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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Aumsville, Oregon News
Seniors elect new officers, directors

The 2008-09 fiscal year has begun for the South Salem Senior Center with the election of new officers and directors.

Alley - Waters

Rachel Alley and Brian Waters, both of Turner, were married July 12, 2008, at the Church on the Hill in Turner.

Motorcyclist sent tohospital after crash

A motorcycle-truck crash about 10:30 p.m. Friday at the Aumsville exit off Highway 22 sent the motorcycle driver to a Portland hospital, the Marion County Sheriff's Office said.

Council races heat up for fall in various towns

City council races are about to heat up for the November election season. The deadline for candidate applications for all cities in Marion County was Tuesday, Aug.

Crowd swarms Aumsville for corn-fed fun

Hot, buttered corn on the cob was the specialty Saturday as Aumsville was filled with corn enthusiasts for the town's 40th annual Corn Festival.

Fashion takes the runway at state fair

McKenzie Masten, 17, normally makes gowns for the annual 4-H fashion competition, where teenagers create clothes and compete first at the county level and then at the Oregon State Fair.

Embezzling case affects ex-coworkers

An Aumsville woman arrested in March in connection with an embezzlement case was sentenced Aug.

Aumsville is all ears for corn

Corn and all that corn entails is the reason for the season at the 40th annual Aumsville Corn Festival, which bears the theme '40 Years of Golden Ears.' One of the most popular features of the festival may be ...

House spared in five-alarm fire

It was 4:15 in the afternoon on one of the hottest days of the year. The temperature was in the 90s, and a 10 mph wind was blowing out of the northeast.

Predicted high of 102 could break valley heat record

Forecasters expect the ferocious heat wave now baking the Pacific Northwest to break a 75-year-old weather record in Salem today.

Blazes tie up traffic on I-5

Traffic on Interstate 5 was backed up as far as 10 miles by burning grass fires south of Jefferson on Wednesday afternoon.

Fires snarl I-5 traffic

Freeway closed about six hours, almost 50 engines respond, witnesses sought A blazing hay truck shedding sparks was part of a fiery scenario on Interstate 5 on Wednesday.

Aumsville has new councilman

Newly appointed Aumsville city councilman Greg Mozzillo hopes to bring a fresh perspective to local politics.

Stunt keeps teen in playhouse

Aaron McLeod, a 14-year-old soon-to-be freshman at West Salem High School, is using his summer vacation to invest in fame and patience - the hard way.

Area city councils need candidates

Wanted: A few good citizens. Several canyon-area city councils have open seats available ahead of the November election.

Aumsville city hall will get elbow room

Maryann Hills, Aumsville city administrator, describes the cramped spaces in the town's existing 920-square-foot city hall.

Stayton man, 19, killed in car crash Monday night near Aumsville

A Stayton man was killed as a passenger in a rollover crash Monday night near Aumsville and two others were injured, sheriff deputies said.


The following cases were decided in Lebanon Municipal Courts between June 18 and July 8. Information for each case includes the defendant's name, age and city of residence, offenses the defendant was convicted ...

Paint the Town 10 times

A bright orange butterfly fluttered through the air in the Historic Deepwood Estate gardens, circling around the head of Salem artist Jody Bartruff.

Evans brings greatest hits to Oregon Garden

Traditional country singer Sara Evans, best known for her 'Born To Fly' and 'Restless' albums, will appear in-person at The Oregon Garden tonight.

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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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