Fair Play, 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
| Fair Play, South Carolina News |
State 11 to keep its 'scenic' status
State 11's status as a scenic highway is still intact, although a state committee had some concerns about commercialization along part of the corridor.
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John McMahan, Jr.
John Elzie McMahan Jr., 80, of Fair Play, S.C., formerly of Swannanoa, died Thursday, October 16, 2008.
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Winfred Elizabeth Shealy Stockman
Winfred Elizabeth Shealy Stockman, 85, died Saturday, October 4, 2008. Mrs. Stockman was born March 26, 1923, in McCormick.
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Doctors Road wreck
The road was most definitely - closed' to this trucker over the weekend. Fair Play Fire Department, Oakway Rescue and EMS were dispatched to the scene on SC Highway 59 at Doctors Road.
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Call About Animal Abuse Leads To Rescue Effort
The view from the road doesn't look so bad. But this weekend Oconee County Animal Control got a call alleging animal abuse at 750 Wind Rider Drive in Fair Play.
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Scenic highways can be lost
' Screw around with a scenic highway enough and you might just lose it. That was the word of warning Michael Covington shared recently with the Oconee County Planning Commission.
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Anderson County magistrate, deputy face more charges in bar fight
An Anderson County sheriff's deputy has been fired, as he and an Anderson County magistrate face new charges in what authorities allege was a weekend bar fight they say began when the magistrate grabbed a ...
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Upstate magistrate, deputy charged with assault
South Carolina state police say an Anderson County magistrate and sheriff's detective have been charged with assault following a bar fight.
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Fair Play construction
Click on photo to enlarge Fair Play construction - Photo by Jessica Nelms/Staff Photo Click on photo to enlarge Fair Play construction - Photo by Jessica Nelms/Staff Crews are busy with repairs Thursday on a ...
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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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