Allegany, NY Divorce Buyout in New York
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 New York, 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 NY
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| Allegany, New York News |
Audit details water chief's $14,000 spending spree
Portage's water plant superintendent abruptly quit after an investigation revealed he spent thousands in authority funds on pricey trips, a baby stroller, zoo tickets and other items.
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Second meeting today on regional water authority
A second meeting to discuss the creation of a regional water and sewer authority will be held Tuesday in the John J. Ash Community Center on North Barry Street.
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Roads, sewer systems in line for funds
Hundreds of area projects to improve roads, schools, sewer systems and parks would be fast-tracked if the state succeeds in snaring enormous sums of money from a proposed federal economic recovery plan, Gov.
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New Year's Eve Snow and Wind
The Winter Weather Advisory for the Twin Tiers has expired. This afternoon a Lake Effect Snow Advisory has been issued for Tompkins and Allegany Counties.
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Dog on ice float is still missing
The Cattaraugus County SPCA is looking for a dog that was rescued from the Allegheny River on Christmas Day.
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Weather extremes
Recent weather changes from one extreme to another - causing ice to pile up in points along the Allegheny River - have not yet caused emergency officials to be worried about flooding.
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Outside furnaces and boilers banned for 6 months
Residents looking to switch their home-heating source to an outdoor wood-burning furnace have to reconsider their options.
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Father, 2 children escape house fire
Area firemen fight a fire early Sunday that destroyed a home in the town of Carrollton, leaving a family of four homeless.
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Talks focus on sharing water, sewer services
The topic of shared water and sewer services surfaced again in talks Wednesday among officials from the City of Olean, the Town and Village of Allegany and St.
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Local man among 11 arraigned in ill.....
United States Attorney Terrance P. Flynn announced the arraignments on the indictments of 11 defendants, from New York, Pennsylvania, West Virginia and Ohio.
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Board wants to look before it leaps on wind-energy project
The Allegany Town Planning board chose 12 different viewpoints Monday night for a visual analysis on a proposed wind-energy project in the Chipmonk Ridge area.
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Blaze destroys two homes in city of Olean
Firefighters believe two young children perished in a fire that engulfed 119 S. Second St.
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Judge to hear suppression motion in slaying of girl, 3
Cattaraugus County Judge Larry M. Himelein is to hear a motion for a show-cause order today regarding the suppression of evidence in the homicide of a 3-yearold girl in her home March 21.
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Olean man found guilty of assault along river
Following a weeklong trial in Cattaraugus County Court an Olean man was convicted by a jury Friday of assaulting and stabbing a man last February in Olean.
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Friendship man accused of lying about abduction
A Friendship man is accused of falsely telling police he was abducted at the Home Depot in Allegany on Sept.
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Building sought to store sand, salt
Cattaraugus County, the city of Olean and town and village of Allegany are submitting an application to New York state for a joint $660,000 salt/sand storage facility.
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RTS for Saturday, November 29, 2008
BIRD REPORTS: When Harold and Sara Whitney were shoveling a path in the snow Monday they were startled by an unexpected sound: Their dogs flushed a woodcock.
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Investigators try to determine cause of fire at Echo Lanes
Fire investigators are working to determine the cause of a fire that gutted the recently re-opened Echo Lanes Bowling center late Friday night.
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City, town tax rates announced for '09
The Cattaraugus County Legislature has announced city and town tax rates in support of the recently adopted $203.9 million spending plan for 2009.
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Spending up by $9 million in plan OK'd by legislators
Cattaraugus County legislators voted without fanfare Wednesday to adopt a $203.9 million spending plan for 2009, making only one bookkeeping adjustment that had no effect on the $44,788,000 tax levy.
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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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