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 our divorce buyout page
| Pennsylvania News |
Murtha: Western Pa. 'racist' but Obama should win
Democratic Rep. John Murtha said Wednesday his home base of western Pennsylvania is racist and that could reduce Barack Obama's victory margin in the state by 4 percentage points.
|
U of R reacts to instructor's child porn arrest
University of Rochester instructor Gilbert Kirton was caught last week in a child porn sting out of Pennsylvania.
|
Hillary Clinton to Pennsylvania: We need you
Hillary Clinton told several hundred supporters gathered in Horsham's Graeme Park on Monday that Pennsylvania is the key to an Election Day win for her onetime rival, presidential hopeful Barack Obama.
|
Palin stumps in Scranton
Visiting northeast Pennsylvania for the first time, Republican vice presidential nominee Sarah Palin touted the new economic plan John McCain unveiled Tuesday while invoking the name of the late Gov.
|
Pa. landowners sue over gas-drilling leases
Scores of people who own land above a potentially lucrative natural gas reservoir are seeking to void the drilling leases they signed and accused a land agent of guaranteeing a lower royalty than the amount ...
|
Governor Rendell Convenes Statewide Summit to Ensure Pennsylvanians...
PHILADELPHIA, Oct. 14 PA-heating-assistance State Launches "Turn Down, Seal Off, Save Up" Campaign to Help Citizens Stretch Heating Budgets to Last All Winter PHILADELPHIA , /PRNewswire-USNewswire/ -- Governor ...
|
Polls give Obama clear lead in Pa.
Democratic Sen. Barack Obama has nearly closed the deal in Pennsylvania, as anxiety over the economy overcomes lingering concerns about his inexperience and qualms about his race, according to more than three ...
|
Couple finds future dim as costs rise, home value falls
These are scary times for David and Karen Hammerschmidt. Like most Americans, they're improvising their way through the current economic downturn.
|
David S. Broder: A shift in Pennsylvania
Last April, on the eve of the Pennsylvania primary, voters in this Philadelphia suburb were finding plenty of fault with both Barack Obama and John McCain.
|
Campus tour: Couple has visited 500 colleges
On their honeymoon in 1984, Steve and Caroline Lake did something that lots of tourists do in Boston - they stopped to visit some of the area's well-known colleges.
|
Clinton's rejoinder: Jobs, baby, jobs
Sen. Hillary Rodham Clinton offered a Democratic rejoinder to the Republican chant of "drill, baby, drill." Said the one-time presidential candidate: "Jobs, baby, jobs." Campaigning for her once bitter rival ...
|
Pa. health-care battle shows states struggle alone
When Gov. Ed Rendell first proposed an ambitious plan to expand subsidized health insurance to uninsured Pennsylvania adults, he wanted the state to step into a void left by the federal government's failure to ...
|
Several lawmakers face same opponent again
In this Oct. 26, 2006, file photo, then-Rep. Melissa Hart, R- Pa., sings during the playing of "The Star Spangled Banner" at a Republican party dinner in New Castle, Pa.
|
Pennsylvania Group Joins Boycott vs. Hallmark Over "same-sex couple" Cards
A Pennsylvania pro-family group has joined a nationwide boycott of a major greeting card company as a result of its promotion of the homosexual lifestyle.
|
More U.S. colleges stamp out smoking
College campuses are going smoke-free in rapidly growing numbers across the U.S. More than 140 campuses, including the University of Hawai'i, now are completely smoke-free, more than triple the number that had ...
|
No Internet access for 9/11 defendants at Gitmo
A U.S. military judge has denied a request from professed Sept. 11 mastermind Khalid Sheikh Mohammed for Internet access inside his Guantanamo cell, ruling he does not need it to prepare for his death penalty ...
|
Obama says he can take McCain's attacks
When Bill and Hillary Clinton take the stage at a campaign rally in Pennsylvania today, it will be the launch of an active campaign for their former rival Barack Obama in the home stretch of the 2008 ...
|
Pennsylvania Governor Rendell Urges General Assembly to Continue Working on Health Care
HARRISBURG, Pa., Oct. 8 PA-GovRendell-HlthIns HARRISBURG , Pa. , Oct. 8 /PRNewswire-USNewswire/ -- Governor Edward G. Rendell today expressed strong disappointment that the General Assembly concluded its fall ...
|
Clintons launch campaign swing for Obama
When Bill and Hillary Clinton take the stage Sunday at a campaign rally in Pennsylvania, it will be the launch of an active campaign for their former nemesis Barack Obama in the home stretch of the 2008 presidential race. The nation's best known and most powerful Democrats for nearly two decades, the former first couple is getting used to a new role: cheerleaders for Obama, who vanquished Hillary Clinton last spring in a Democratic primary contest for the ages. Whatever recriminations the Clintons may still harbor from that long battle seem to have been nudged aside as they campaign in earnest for the Democratic ticket.
|
Obama Notes McCain's Effort to Temper GOP Comments
Barack Obama says he knows John McCain has asked supporters to tone down their attacks on him.
|
|
With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
| |
"I prayed day and night for a miracle...In less than a week, (Somerset) was able to stop the foreclosure and get a new mortgage for me. It was the best of times...I have Somerset Mortgage Lenders to thank until eternity for the miracle they were able to make come true." - Diane B.
|
|