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Abbottstown, PA Divorce Buyout in Pennsylvania

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 Pennsylvania, 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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Abbottstown, Pennsylvania News
Yard sale to benefit square renovation project

Abbottstown will hold its first "Arts, Crafts and Yard Sale" on Saturday, Sept. 13, at the Abbottstown Recreation Park on High Street.


EARP gives Abbottstown new contract offer

Abbottstown has received a tentative coverage offer from Eastern Adams Regional Police at slightly more than the $300 than they paid last year, for a total of nearly $100,000. Abbottstown is currently in the ...


Public record for Friday, Aug. 22, 2008

The striking vehicle was last seen turning into an alley off Broadway and the Dodge required towing.


How to make a winning pie

Pat Bull puts the finishing touches on an apple pie Monday morning for the South Mountain Fair at her home in Abbottstown.


Altland House chef enjoys fast pace of biz

Jon Alvarez has been executive chef at The Altland House, in the center square of Abbottstown, for almost a year.


Public record for Tuesday, Aug. 12, 2008

Ashley Abel and Chad Emig, Hanover, a daughter, July 26, 2008, at Hanover Hospital.


Adult Probation has found new approach to community service

A program that began as a way for adults on probation to collect food for community service has grown to include other departments and help supply the county's six food banks.


Blaze takes soldier's home

Marci Bievenour sat with her back to her Peepytown Road home, crying because she won't have one last Christmas in her home before deploying to Iraq.


Reading Township house fire leaves four homeless

A house fire in Reading Township caused extensive damage to the two-story structure, leaving the structure essentially untenable as a residence.


Cancer survivor takes team to Boston for Komen foundation walk

Breast-cancer survivor Diana Whisler, center, plans to lead six walkers - who raised a total of $18,000 - on a 3-day, 60-mile walk starting Aug.


UFO sighting: What did Thomasville man see?

Dave Dietz points out one of the photographs on his computer of the UFO he witnessed and took pictures of outside his Thomasville home last week.


Police submit logs to Abbottstown

At the request of the Abbottstown Borough Council, the Eastern Adams Regional Police Department has submitted its first monthly log for calls within the municipality.


Two Adams fire companies discuss merger

By next year, Abbottstown and New Oxford fire companies might be one unit. Not exactly one.


Police investigate Abbottstown thefts

Eastern Adams Regional Police are investigating a report of a stolen vehicle and a string of thefts out of motor vehicles in the Abbottstown area over the past few weeks.


Two teens hurt in roll-over accident

A Ford Explorer, driven by 17-year-old Ashley Schaffer, collided with a truck turning into the Tropical Treat restaurant on Carlisle Pike Monday, causing her SUV to roll five to six times.


Police: Brakes fail, causing accident

Nathan Clair, 18, of Gettysburg, was traveling north on Centennial Road and attempted to stop at the stop sign at the intersection with Bon-Ox Road, when he found his brakes didn't work, according to documents ...


Bittinger earns Lincoln victory

Abbottstown's Mike Bittinger scored his first career super sprint feature win early Sunday morning at Lincoln Speedway.


Something in the sky

A Thomasville area man saw something, but he's not sure what it was. Article Last Updated: 08/03/2008 05:29:41 AM EDT Dave Dietz of Thomasville saw something in the night sky last week, and that's a picture of ...


Abbottstown welcoming committee starts

Abbottstown Borough's newest committee recently delivered a bevy of gifts to the borough's newest residents.


Abbottstown welcoming committee starts

Abbottstown Borough's newest committee recently delivered a bevy of gifts to the borough's newest residents.


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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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