Brookings, OR Divorce Buyout in Oregon
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 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.
Return to divorce buyout in the state of OR
| Brookings, Oregon News |
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the Auction is Back
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233 Years of Service
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Saluting Veterans: VVW Reopens Post, with Veterans' Ceremony
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Kitchen, Gordon Re-Elected to Brookings City Council
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Marine Reserve Opponents Circulating Petition
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A Brookings couple participating in the Brookings-Harbor Community Christmas Bazaar Saturday, Nov.
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Co-Op Seeks Permit to Build New Power Line to Brookings
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Feds Take Control of Tidewater Embezzlement Case
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A new platoon salutes Brookings
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Youth Soccer League Holds Travel Raffle Drawing
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Artisans Prepare for Brookings Annual Christmas Bazaar
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Brookings Chamber Ceo Receives State Honor
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Gaylin Beckley, Susan Bristow, Lorie Botnen, Cleo Curtiss and Tammy Rigel show samples of coats they are collecting for children.
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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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