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Atglen, 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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Atglen, Pennsylvania News
Thorns to arson

Robert Bruce Tribbett Jr., 24, of Sadsburyville, was arrested last Friday for his alleged connection to several of 11 arsons under investigation by state police.


Teens sentenced for car thefts

Two 19-year-old men have been sentenced to prison for a series of car thefts in February.


Work on $4.4M Pequea bridge to begin Sept. 2

After carrying boaters, fishermen, hikers and residents for 96 years, Pequea's landmark steel bridge soon will be removed and replaced.


60 is a charm for Gap Relief Auction

Leon Summers remembers the summer of 1948 well. It was the first year the Gap Relief Auction was held.


Enola line: Now what?

Now that six Lancaster County townships own the sections of the Enola Low-Grade Line within their borders, officials hope to work together as they plan the property's future.


Fires hit in Christiana, East Hempfield

Fire swept through a two-story rented house in Christiana Borough on Monday afternoon, officials said.


Marking History

Many of these stories have been preserved on more than 60 historical markers dotting the county landscape.


Marking History

Many of these stories have been preserved on more than 60 historical markers dotting the county landscape.


Night work restricts I-81 traffic

Motorists can expect traffic restrictions at night this week on Interstate 81 at the northern and southern ends of Franklin County.


Earning their stripes

Joan Marczesky salutes the crowd during the street rod parade Friday on Carlisle Avenue in York.


Local Marine Killed In Iraq Honored

A U.S. Marine from the Susquehanna Valley who was killed in Iraq was remembered today as part of a Memorial Day program at his alma mater.


Enola line sale nears

"After everything we've been through, it would seem odd to just let it pass without any acknowledgment."

LANCASTER, Pa. - It's been 19 years since Conrail first moved to abandon the train tracks that stretch across southern Lancaster County. via Brotherhood of Locomotive Engineers a...


Mason Dixon Road bridge closed for summer

The bridge that carries the Mason Dixon Road over Interstate 81 at State Line was closed today for repairs. via Chambersburg Public Opinion


Man dies cutting RR wire

"It appears likely the cause of death will be electrocution and the manner of death will be accidental"

A man apparently was electrocuted in Eden Township Monday afternoon while trying to cut copper wires from an active high-voltage line. via LancasterOnline


Plea deal made in fatal stabbing

"Given the history of the case, it's also good for the family to have closure."

The fourth murder trial of a Chester County man accused of fatally stabbing a rival gang member was preempted yesterday by a plea deal, ending a four-year prosecution. via Philly.com


Marshalls Creek bypass: 'Now they're screwed'

"The damage is done, you've committed to the damage, now finish the job"

MARSHALLS CREEK &#8212 You can't stop progress. That is, unless you're PennDOT. Rising construction costs, lack of money, and a state full of rickety bridges were reasons given this week for putting the ... via Pocono Record


Ongoing roadwork in Stroudsburg

PennDOT has announced work to upgrade traffic signals and improve the streetscape on PA 611 in the Borough of Stroudsburg, Monroe County . via The Morning Call


Philly's I-95 Crisis Underlines Infrastructure Funding Need

"This incident clearly demonstrates that we need a greater investment in our infrastructure - here in Pennsylvania and across the nation."

A length of major northeastern artery Interstate 95 was shut down on March 17 after a crack some 6 ft. via Construction Equipment Guide


Column that crippled I-95 will be replaced

The Pennsylvania Department of Transportation yesterday announced that it would replace the damaged steel-reinforced-concrete column beneath I-95 in Port Richmond that last week crippled the freeway. via Philly.com


Building site copper targeted by thieves

Thieves grabbed more than $6,000 worth of copper wire supplies and other construction-related items last week from businesses and construction sites in the Cocalico area, police report. via LancasterOnline


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