East Providence, RI Divorce Buyout in Rhode Island
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 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
| East Providence, Rhode Island News |
Owner, 32, looted East Providence title business
The former owner of a title insurance firm in East Providence pleaded guilty yesterday to a federal fraud charge for looting more than $1.3 million from company accounts and using the money for vacations, hair ...
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Ex-owner of RI closing co. pleads guilty to fraud
Thirty-two year old Angela Raposa, of East Providence, pleaded guilty Monday to one count of wire fraud.
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Burglary suspect dies during heist
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Scott Turner: Odious outlaws of the Ocean State
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Late officera s sons follow his lead in public service
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DaPonte ready for big job
Designated as the next chairman of the Senate Finance Committee, East Providence Sen.
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Pedestrian killed in Thompson
Connecticut state police are investigating an accident in Thompson that killed a pedestrian.
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Paiva Weed picks DaPonte to head Senate Finance Committee
In her first act since fellow Democrats endorsed her for Senate president, Senate Majority Leader M. Teresa Paiva Weed yesterday announced that she has chosen Sen.
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Robbery suspect in custody after high-speed chase
Police have arrested one of two suspects in a pair of recent armed robberies as the search for the second suspect continues.
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Ex-AG Roberts: Site of mobster's body may be all wet
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New East Providence City Council announces staff changes
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Rhode Island Police Investigate Decades-Old Mob Hit
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State police keep digging for victim of mob hit
One backhoe had begun the task yesterday, before stopping as darkness fell. The work started up again at 9 this morning.
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E. Providence school reopening after lead scare
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RI Mobsters in Court; Crews Searching for a Murder Victim's Body
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30 years later, digging for a mobster's body
Journal photo / Bill Murphy State Police detectives and FBI agents watch as a backhoe goes to work this afternoon in the backyard of Lisboa Apartments at 378 Bullocks Point Ave.
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East Providence teachers union decries criticism by school officials
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RI Young Dems elect new leadership team
The Rhode Island Young Democrats - www.riyoungdems.org - announced today the election of Meghan Grady as president, Kimberly Ahern as vice-president and Eric Coury as national committeeman.
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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 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.
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