Slatersville, 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
| Slatersville, Rhode Island News |
Hamilton details plan to add recreation programs
Town Administrator-elect Paulette Hamilton has outlined one of her first major initiatives once she takes office next Monday, Dec.
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Lowe, Hamilton jockey for position with high number of new voters expected
The feverish campaigns of incumbent Town Administrator Robert Lowe and challenger Paulette Hamilton picked up even more steam in the restaurants, roadways, and apartment complexes of North Smithfield last week.
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Slatersville's centerpiece steeple stabilized
The once-teetering Slatersville Congregational Church steeple, beautiful even in its old age, has been given new life.
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Love Stories: Pat Vanasse and her grandson, Benjamin Souza
Benjamin, 4, calls his grandmother RiRi. "I couldn't say Grandma at first so that came out." Pat Vanasse has helped care for Ben since he was born to her daughter, Nicole Houle, on March 25, 2004.
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Contest Awards Projects Using Fortune Contract Carpet
Last month, at NeoCon World's Trade Fair in Chicago, two firms earned a nod for their design-savvy use of Fortune Contract carpet.
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A couple's 'perfect life' ends abruptly; a family asks why
"It's really hard to bury the sister you loved with the man who killed her." The cemetery of St. John the Evangelist parish sits on a hillside, overlooking the Slatersville Reservoirs, just south of the white-steeple church. via Providence Journal
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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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"Our family would like to thank Somerset Mortgage Lenders for getting us out of foreclosure. Without your help we do not know what would have become of our family. When we first called, we were in Chapter 13 bankruptcy...Not only will we now be able to keep our home, but we'll be able to put ourselves on track financially, thanks to all the efforts of the wonderful people at Somerset. We will be forever grateful to you all." - Scott & Amy
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