West Union, 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
| West Union, South Carolina News |
West Union gets ready for first Christmas parade
For the first time in their 30 years living in town, Sharon and Marshall Smith won't have to drive near or far to see a Christmas parade.
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Auto accidents claim cars, hospitalize one
Two separate accidents in Seneca on Tuesday damaged four cars and sent a college student to the hospital.
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County readies for first ISO study in 20 years
November 8, 2008 - 12:04 a.m. EST Photo What's ISO The Insurance Services Organization is an arm of the insurance industry that applies common criteria to fire departments and districts across the nation.
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3 burglary suspects arrested
Oconee County investigators, assisted by law enforcement in Pickens County and Rabun County, Ga., broke up a theft ring that had targeted 12 local businesses since September.
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Business, Industry leaders gather to receive information on WorkKeys program
The WorkKeys job skill assessment system isn't new, as its creation by ACT - the college testing system - can be traced back to the late-80s. However, the concept is fairly new to many local companies seeking ...
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Oconee County Red Cross desperate for funding
The organization known for helping others is in desperate need of help itself. The Oconee County Chapter of the American Red Cross is in dire need of monetary donations, Executive Director Kathy Rogers said ...
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Attorney General looks into failed Seneca firm
The collapse of a Seneca-based consumer loan firm that left dozens of high-stake investors hanging out to dry is under review by the state Attorney General's Office.
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Rash of burglaries strikes Oconee stores
Over the past two months, a string of burglaries has targeted more than a half-dozen businesses in Oconee County that, according to a lead investigator in the cases, is taking on a disturbing pattern.
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Weekend fire claims Seneca mana s house
A Saturday night fire in Seneca has driven a man out of his home, Capt. Jan Oliver of the Seneca Fire Department said.
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Companya s investors stand to lose millions
October 18, 2008 - 12:00 a.m. EST People continue to file reports with the police, claiming they have lost sizeable amounts of money invested in a local consumer loan company that is going belly up.
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Missing Finance Co. Owner Found Hiding In Barn
Days after his family went begged the public for help to find a missing man, the owner of a troubled financing firm was found hiding out in a barn, living on honey water, according to investigators.
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Missing man was hiding
October 14, 2008 - 03:01 p.m. EST WALHALLA - The Oconee County Sheriffa s Office reported Monday that the West Union man they had been searching for after going missing more than a week ago had gone into hiding ...
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Mana s disappearance baffles family
The disappearance of Bounty Land Finance Inc. owner James Thomas Orr continues to stump authorities searching for the 62-year-old businessman and baffle family members praying for his safe return.
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Sewer group to continue under two names
Sewer oversight in Oconee County likely will remain in the hands of the two-headed Sewer Commission/Oconee Joint Regional Sewer Authority for the remainder of 2008 and well into the new year.
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West Union man reported missing
WEST UNION a ' Emergency crews continued to search Monday for a West Union man reported missing.
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Locals mulling transit expansion
' If Frank Curti was looking for public input into extended Oconee County bus service, he didn't find much here Thursday afternoon.
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Golden honorees
Text: Ozella is a member of the Travelers Rest Baptist Church, where she has attended for 90-plus years.
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Oconee County ministries reach out to Haiti
Photo West Union resident Bill Cameron, left, learned this week that his friend and Good Samaritan, Pierre France, had moved dozens of orphans to safety after Hurricane Ike swept through Haiti last weekend.
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Pitt Bull attacks 4-year-old boy
' Oconee County Animal Control officials said Thursday that a 4-year-old boy attacked by a pit bull the day before was being treated at a Greenville hospital.
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Seven More Upstate SC Counties In Extreme Drought
Seven more South Carolina counties are now in an extreme drought. The state's Drought Response Committee met Tuesday in Columbia and upgraded Anderson, Abbeville, Greenwood, Newberry, Saluda, Edgefield, ...
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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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"I prayed day and night for a miracle...In less than a week, (Somerset) was able to stop the foreclosure and get a new mortgage for me. It was the best of times...I have Somerset Mortgage Lenders to thank until eternity for the miracle they were able to make come true." - Diane B.
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