Middletown, 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
| Middletown, Rhode Island News |
Father charged with abusing baby
A Middletown man who admitted to police that he stepped on, kicked, and beat his 8-month-old baby boy is facing first-degree child abuse charges, according to Rhode Island State Police.
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Danielle Gilman of Middletown said she exceeded her budget on Black Friday. Black Friday wasn't Bleak Friday, but local merchants are unsure how well the rest of the Christmas shopping season will unfold.
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He buys, he lists; actor Nicolas Cage - who is always hard to...
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Cape Codders having fun
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Briggs Callahan, 3, of Middletown takes in the view of the hull of Rhode Island's new Tall Ship, Oliver Hazard Perry, from his father Tom Callahan's shoulders on Wednesday on Bowen's Wharf in Newport.
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Towerstream Announces Record Revenues for the Third Quarter 2008 with ...
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With tremendous interest in the presidential race, voters may face longer lines than usual at polling places Tuesday.
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Perry takes District 13 fight to Paiva Weed
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Nic, we hardly knew ye. A little more a year after he purchased it, actor Nicolas Cage is selling the Gray Craig estate.
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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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