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Divorce Buyouts
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Afton, TN Divorce Buyout in Tennessee
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 Tennessee, 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 TN
| Afton, Tennessee News |
Man Charged With Stealing Gun From Firearms Dealer
An Afton man was released on bond Tuesday pending trial in January in U.S. District Court here on a charge of stealing a handgun from a federally licensed firearms dealer earlier this year.
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Afton Teen, 18, Dies After Car Strikes A Tree
An 18-year-old Greene Countian, Robert Shane Good, of 3475 Kingsport Highway, was fatally injured Friday morning in a vehicular accident in Washington County.
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4 Motorcycle Accidents Reported Over Weekend
Four separate accidents involving motorcycles have been reported since Friday, local authorities have reported.
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Motorcyclist Hurt In 11E Wreck
A motorcyclist from Jonesborough was taken to Laughlin Memorial Hospital after a Friday afternoon traffic accident on the East Andrew Johnson Highway here.
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County Committee Studies Building Code
The Greene County Commission's Building Code Committee on Wednesday discussed, but took no action on, a proposed building code for adoption by the county.
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Two Injured In Head-On Collision
Two people were injured about 11:30 p.m. on Friday in a head-on collision along Houston Valley Road about two miles west of Tarlton Circle.
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Injured Afton Woman Is 'Stable' After Crash
An Afton woman who was injured in a Wednesday afternoon two-car accident on the Erwin Highway at Williamson Road remained in stable condition at the Johnson City Medical Center this morning.
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School Bus Driver Cited In Fatal Crash
A Greene County school bus driver has been cited for failure to yield the right of way in a fatal collision with a compact car on fog-shrouded U.S. 11E at Chuckey Ruritan Road on Monday morning.
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Delivering Produce on Wheels
"Why don't you have a farmers' market on wheels?" Like a little red barn on wheels, the Mobile Farmers' Market rumbles into the parking lot of Plaza Towers, a rent-controlled apartment building for senior citizens in Greeneville, Tenn. via American Profile
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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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