Dry Run, PA Divorce Buyout in Pennsylvania
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 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.
Return to divorce buyout in the state of PA
| Dry Run, Pennsylvania News |
Shirley C. Peterson
Shirley C. Peterson, 71, of 18777 Dry Run Road, Dry Run, PA, passed away at 3:22 AM, Saturday, November 29, 2008 in Chambersburg Hospital.
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Thelma May Funston Burdge
Thelma May Funston Burdge age 92, passed from this life to eternity with her five children and their spouses and a grandson by her bedside on Tuesday, November 11, 2008.
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Warren M. "Shorty" Yocum
Warren M. "Shorty" Yocum, 82, of Blairs Mills, died Sunday, Oct. 26, 2008, at Woodland Retirement Center, Orbisonia.
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Dry Run man charged with assaulting girlfriend
A man from Dry Run was arrested Monday after a domestic disturbance around 2 p.m. at 9204 Iron Bridge Road in Letterkenny Township.
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Gardening helps youth, needy
Gardening for needy: Brenda Keller maintains a vegetable garden with help from her son, Allen Baughman, at their Fannettsburg home.
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Dry Run man charged with leaving the scene
A man from Dry Run who went to his son's house Tuesday after a one-vehicle crash on Path Valley Road in Fannett Township faces charges in magistrate's court.
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Presidential primary likely to lure more Pa. voters to polls
"It is unprecedented for a primary election in Pennsylvania, and it is very exciting to see so many people want to participate in the electoral process" Higher-than-normal turnout is expected across Pennsylvania during Tuesday's primary election, due in large part to the closely watched presidential primary pitting Hillary Clinton against Barack Obama. via Herald-Mail
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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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