Albion, RI Divorce Buyout in Rhode Island
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 Rhode Island, 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 RI
| Albion, Rhode Island News |
Rhode Island Firefighters Battle Vacant Structure Fire
Around 10:00 pm on August 19th all Central Falls apparatus was dispatched to the area of Hendricks and Wetmore Streets for a reported structure fire.
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Rank Strangers, Bluegrass Brunch at the Albion
Get ready for jambalaya, pulled pork and gumbo this Sunday, as the Albion Pub kicks off its first Bluegrass Brunch on Sundays.
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Ope\n seats prompt scrum in Assembly races
Open seats have touched off free-for-alls in two local state representative districts, with six candidates vying to replace Roger Picard in Woonsocket's District 51 and five hopefuls looking to succeed Rick ...
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Blackstone Valley: Casey wins seat in District 2 school board race
Casey, who garnered about 62 percent of the vote according to unofficial Providence Journal results, will serve a four-year term as Lonsdale's representative on the school board.
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Historic District Commission finds Spring House in violation
Renovations on the exterior of the Spring House Hotel were stopped March 26 by town Building Official Marc Tillson, and the Historic District Commission took up the case at its meeting Monday night.
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Voters OK extra $500K for schools budget
"Simply put, the taxpayers who opposed the budget as it was will have to pay an (extra) $102 on a $300,000 home." Late Monday night, Lincoln's residents voted, but not in resounding fashion, for an additional $500,000 in the schools budget for 2008-09. Before the FTM, the recommended schools allotment sat at $47.8 million; ... via The Pawtucket Times
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24/3 gambling divides Democrats in Lincoln
"Pure and simple, I think Mr. Crowley was working at odds to the committee, he's clearly against the committee's wishes, and also the Lincoln electorate, which voted 65 percent against expanded gambling at Twin River (last Nov. 10)" For 40 years now, John J. Cullen has considered himself a loyal Democrat. But he decided, in a letter dated Thursday, to resign his post as District 4 chairman of the Lincoln Democratic Town Committee. via The Pawtucket Times
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'I just want to clear my name'
"I used to have a beeper for all those calls. "Not anymore" It was about 5:50 p.m., Wednesday when firefighters pulled an engine out of its bay at the Albion Fire Department and traveled up School Street, sirens blaring, en route to a call. via The Pawtucket Times
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Sullivan sworn in as police chief
"The number of people who were here didn't really surprise me" Marylou Sullivan claimed her eyes let her down. She had hoped to avoid becoming teary-eyed when her son officially became the town's new police chief, but couldn't help herself. via The Pawtucket Times
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Blackstone River after heavy rains
Location: Albion, RI bikepath at the School St. Bridge Sunday March 9 2008 Albion Rhode Island. via WLNE-TV Providence
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Target 12 Investigators
Police have arrested two people in connection with a local grand theft auto ring. via WPRI
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On the Block; community events
Art with Anne and Alex at Juice 'n Java This week's art session, back by popular demand, will be vision boards on Saturday, December 22. via The Block Island Times
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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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"...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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