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
| Providence, Rhode Island News |
PC loses to Dartmouth in hockey
The Providence College men's hockey team lost to 20th-ranked Dartmouth, 4-2, last night in a nonconference game at Schneider Arena.
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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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Providence Fire Fighters Respond to an Electrical Fire
Several families were displaced Sunday after a fire breaks out amulti-family home.
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Providence man dies when car slams Route 195 on-ramp wall
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Suspect sends RI police on wild chase, flees
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Senate committee in RI to discuss abusive lending
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Two men shot at housing complex
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RI man accused of torturing, kidnapping friend
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Police plan crackdown on gangs
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Woman, son reported missing
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Prosecutors to rest case in child killing trial
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Bay Colony Dog Show coming to the Rhode Island Convention Center in Providence in 2009
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Two injured in Manton Heights shooting in Providence
Providence Police are investigating a double shooting last night in the Manton Heights public housing development that left two local men injured, one in serious condition.
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Principal faces sex-abuse charges
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A Providence man is indicted on the charges of the murder of his elderly mother in August 2007.
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Town of Richmond pays political candidate for sign removal
Disctrict court ruled that the town of Richmond illegally removed campaign signs.
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No body? No problem in nearly 300 murder prosecutions
When Andrew F. Merola and Nicholas S. Pari were charged with assassinating Joseph P. "Joe Onions" Scanlon 30 years ago, their lawyers cried foul.
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Patriots kicker Gostkowski safeguards kicking leg during fight
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The Big Blue Bug gets zapped
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Jim Donaldson -- Rams win when they should have lost, and vice versa
New PC hoop coach Keno Davis shouts instructions to his players in Saturday's season-opener against Northeastern.
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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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