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Barstow, CA Divorce Buyout in California

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 California, 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 CA

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Barstow, California News
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BARSTOW Barstow became one of almost 30 cities in the Inland Empire to join a coalition that aims to bring more green economic development to the region.


Major construction on sheriffa s station begins this month

BARSTOW Major construction on the San Bernardino County Sheriff's Department station in Barstow will begin this month after county supervisors awarded construction contracts to two Southern California ...


City prepares to plow ahead with road work

BARSTOW The city is preparing to move forward with several of the approximately $8.7 million in street repair projects planned for the 2008-09 fiscal year.


Fee hike potentially impacts California veterans

Gov. Arnold Schwarzenegger's new state budget proposal could potentially impact veterans across California, including those residing at the Veterans Home of California - Barstow.


Local POW stars in war documentary

BARSTOW Most of Dave Villafana's customers never knew that Villafana was ever a prisoner of war when they stepped into his Main Street barber shop.


City sees increase in sales tax, decrease in gas tax revenues

BARSTOW The city of Barstow saw an increase in sales tax and a slight decrease in gas tax revenues, meaning that consumers were driving less but paying more for fuel, from the latter part of 2007 to 2008.


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From sewage to snow: A look at 2008 in Barstow

Barstow saw a mixed year in 2008. Along with the rest of the nation, it suffered from a flagging economy, record-high fuel prices in the summer and a slumping housing market that put planned developments like ...


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Locals celebrate Kwanzaa with political flavor

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Christmas on the clock

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Christmas charities cope with economy

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Holiday travel down this year

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Lights twinkle, snowmen sparkle and even Christmas carols waft softly in the background of Bill and Lydia Hayes' house on Trinity Ave.


Cops treat thousands of kids, teens with toys

BARSTOW When sirens blared in eight-year-old Sharai Andrade's neighborhood on Saturday morning, Andrade knew exactly what to do: She woke up her younger sister, got their mother and rushed out the door.


Third suspect arrested in connection with the killing near Barstow.

Barstow police detectives probing the fatal shooting over the summer of an aspiring rapper from San Bernardino came to Riverside on Thursday to arrest a third suspect charged with the crime.


Another day of rain and snow ruins drivers' commute

Snow forced closure of the Cajon Pass for the second time in three days Wednesday, stranding dozens of motorists and truck drivers on the side of the icy 15 Freeway between Devore and Hesperia.


As storm passes, locals turn to clean-up efforts

BARSTOW By Thursday morning, snow had ceased to fall in Barstow, travelers were back on the road, and locals had turned to cleaning up the mess that was left behind.


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