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Reverse Mortgage
Divorce Buyouts
Debt Consolidation
Home Improvement
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York, 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
| York, South Carolina News |
York County Roundup for
Speeders beware: The Fort Mill Police Department plans to crack down on traffic scofflaws.
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Project Runway winner to present his spring 2009 collection at Coplon's Tuesday
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US dollar mostly down in Europe
The U.S. dollar was mostly lower against other major currencies in European trading Monday .
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States Eye Their Share of Federal Bailout
By Pamela M. Prah - States are urging Congress and the incoming Obama administration to include in any federal economic stimulus package money to help cash-strapped states create jobs and repair the crumbling ...
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State to borrow for unemployment fund benefits
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Bailout loan to help agency cope
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York County Roundup Nov. 20
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Time to give
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State refuses to renew license until probe closed
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Dollar down, gold up in Europe
The U.S. dollar was down against most other major currencies in European trading Tuesday.
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York woman guilty of her lover's death
A 48-year old York woman pleaded guilty Thursday to killing her former lover, officials said.
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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 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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