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Divorce Buyouts
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Kenyon, 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
| Kenyon, Rhode Island News |
Papal positions playing little role in U.S. politics
"There is a weighing process that they feel expected to undertake as people of faith and they make the best choices they can." In his first ceremonial appearance on U.S. soil, Pope Benedict XVI will be honored at a huge White House gathering this morning by a conservative Protestant president who courted and won a majority of Catholic ... via Providence Journal
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Politicians pay tribute to former aide
"Tony one day walks up to me and says, 'You know what? Stop talking to Patrick. It takes me two days to get out of his head what you put in it!' " When, amid Gilded Age splendor, U.S. Rep. Patrick Kennedy hosted a tribute last Saturday to the late Tony Marcella, aide and friend, several Rhode Island political headliners turned out. via Providence Journal
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Illegal Immigrant Arrested In State Office
"The state of the Rhode Island seal that the worker knows should be on a license wasn't on this one. So that raised the suspicion and he called capitol police, who then called us" Police have arrested an illegal immigrant from Bolivia at a state office after he allegedly showed a fake ID to a worker. via WJAR-TV
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Some gay couples are having trouble obtaining divorces
"It's a novel concept in the family law area" Gay couples had to struggle mightily to win the right to marry or form civil unions. via WPRI-TV East Providence
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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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"Every other company said they could not help us. After speaking to about five companies, we really believed that no one could. Then we called Somerset, and your company proved us and those other companies wrong. We can't thank you enough for all your hard work and effort in getting us a low fixed rate. We can now breathe easier..." - L. Braun
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