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Slocum, 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.

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Slocum, Rhode Island News
Campion tapped for chief

Fighting fires and responding to alarms since he was a teenager, Patrick Campion has climbed his way to the top of the ladder after being chosen as the next chief of the North Kingstown Fire Department.


Maugans Avenue upgrades likely to be done by end of Oct.

Improvements to Maugans Avenue between U.S. 11 and Interstate 81 should be largely finished by the end of October, Washington County Public Works Deputy Director Robert J. Slocum said Tuesday.


Officials hope regulations reshape road

To say there is room for aesthetic improvement along Post Road would be an understatement, but with new zoning regulations going into effect next month, officials hope to revitalize the town's main commercial ...


Maugansville residents, business owners talk about construction

As he looked out his office window over Maugans Avenue, Andrew J. Clemmer weighed the pros and cons of the construction happening below.


Washington Co. chip seal repairs anger some residents

For two weeks, the top of Terry Biser's driveway has been filled with pebbles. He sweeps it occasionally, but the rocks keep rolling off Leiters Mill Road onto his property, the result of a new road repair ...


Gapland Road is part of county's repair plans

"The road just keeps getting worse"

By ANDREW SCHOTZ Washington County has scheduled "full-depth reclamation," a type of road replacement, for Gapland Road in fiscal year 2011, said Robert J. Slocum, the county's acting deputy director of public ... via Herald-Mail


A chance to celebrate R.I.

Governor Carcieri will host a public celebration of Rhode Island Independence Day at Camp Fogarty in East Greenwich on Saturday, May 3, from 9 a.m. to 5 p.m. All units of the Rhode Island Militia - Gloucester ... via Providence Journal


West Warwick man racing his wheelchair in marathon -- again

"He's doing a lot of running and running double what he would [usually] run"

When Jason Pisano entered his first marathon, 14 years ago, no one thought he would finish. via Providence Journal


Some R.I. residents can use online registration service

Residents of several towns cannot use the Division of Motor Vehicles online registration renewal service because of a quirk in the way those towns certify taxes. via WPRI-TV East Providence


Top lawyer for DEM steps down

"The state is discussing with Ms. Fairweather what role, if any, she will have in continuing to provide legal services to the administration. No decisions have been made."

Patty Allison Fairweather, who has been at the center of a string of controversies while serving as the top legal counsel at the state Department of Environmental Management, has left the state agency. via Providence Journal


Audubon's Earth Day is planet's birthday party

"Until then, they think, 'How does a global issue affect my life?' But when it's concrete and right in front of you, such as the price of gas, it makes the abstract realistic."

Join the party. Honor Mother Nature. Earth Day approaches. "This is the planet's birthday," says Jeff Hall, senior director of advancement at the Audubon Society of Rhode Island. via Providence Journal


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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"...I was sure that Somerset was the right choice...they couldn't have been more compassionate or understanding...I just couldn't believe that this all happened within a week...Thanks to my loan officer and all the rest of those great people at Somerset, my family will be able to stay in the only home they have known for some time, without fear of being put out." - Tom N.
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