North Kingstown, 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
| North Kingstown, Rhode Island News |
North Kingstown launches online whistleblower complaint system
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Gas leak forces apartment evacuation
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On gas prices, oil pirates and annoying e-mails
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Littleton Retailer Eyes Feb. Opening For R.I. Store
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Stainless Steel Pots Recalled by Ocean State Jobbers Due to Burn Hazard
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Dover Saddlery Announces New Store Opening in North Kingstown, Rhode Island
Dover Saddlery Retail, Inc., a wholly owned subsidiary of Dover Saddlery , today announced plans to open a new store in North Kingstown, Rhode Island, in February 2009.
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Wild in the streets
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North Kingstown mother who lost son in crash is fighting teen drinking
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Campion tapped for chief
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South County Hospital sets up new shop in EG
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Conservation official cites lawn watering for water shortages
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What does Wickford think about John Updike now? Not much
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Shady Lea Mill to host Open Studios
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News and Views from Other Islands
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District 35 race still up in the air
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Craving a Narragansett: The bird, not the beer
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Political placards remain election-season targets in Rhode Island
They planted yet another placard, smeared the edges with grease and surrounded it with pungent cow manure.
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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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