Calhoun Falls, SC Divorce Buyout in South Carolina
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 South Carolina, 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 SC
| Calhoun Falls, South Carolina News |
Calhoun Falls church marks milestone
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Hopefuls deliver last push for office
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State senate candidates discuss ways to bring in new businesses
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Elementary students get 'taste of agriculture' at event
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Abbeville council hears about water system
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Crime tip line established on Erskine campus
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Ministry to have conference in Greenwood
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Blue Flashes - Remembering Yet Making New History
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Calhoun Falls school welcomes students for first day
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Abbeville gears up for school
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Several file for Abbeville posts
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Abbeville Opera House auditions for vaudeville show
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Students do better on ACT
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320 walk stage, receive degrees at Piedmont Tech
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A'ville children keep on reading
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Willington gazebo, fence garden dedicated
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Arrest made in undercover cocaine sting
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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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