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.
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The Tennessee General Assembly is launching an overhauled Web site that officials say will make it easier to track bills and to watch video about specific legislative measures.
A Memphis judge says the computer sales company BlueHippo must set aside $1 million to cover potential claims from unhappy Tennessee customers.
NASHVILLE - A Nashville-area plumber will get back most of his million-dollar collection of Jack Daniel's whiskey bottles in a settlement with the state's liquor board.
A former federal mining regulator contends small leaks years earlier were advance warnings of a coal ash pond collapse that flooded a Tennessee neighborhood.
Lou the mule brayed his way into his owner's heart with a New Year's warning that her rural Tennessee home was on fire.
The Tennessee Department of Transportation also wants to do everything it can to support the state's tourism industry.
Knoxville Mayor Bill Haslam announced today he will run for governor of Tennessee next year.
Former U.S. Rep. Harold Ford Jr. isn't running for Tennessee governor in 2010 - at least, not yet.
A strengthening low pressure system over the lower Mississippi Valley is producing widespread rainfall over much of Tennessee.
Suspicious contents in a package opened at The Tennessean on Monday night caused a three-hour delay in production affecting delivery of four newspapers printed at the Broadway plant.
Children born before the winter flu season have a higher risk of developing asthma than those born at other times, U.S. university research indicates.
Golden was thrown from the motorcycle and died at the scene. Witnesses told investigators the motorcycle was traveling at a high rate of speed.
Former U.S Senator Bill Frist announced late Sunday evening that he will not be a candidate for governor of Tennessee in 2010.
The National Weather Service is forecasting freezing rain and sleet in the western half of Tennessee and has a flood watch posted for the eastern half of the state.
An official with the Country Music Hall of Fame & Museum says the Nashville site will get to keep several key artifacts despite a bankruptcy claim against it.
By Christina E. Sanchez THE TENNESSEAN Latasha Gregory watches for supermarket deals like buy-one-get-one-free to keep her grocery bill low and the food sales tax she has to pay even lower.
NASHVILLE - Tennessee's 132 lawmakers have ordered more than 300 special state House and Senate license plates for themselves and family members, a public records request has found.
Former Senate Majority Leader Bill Frist tells The Associated Press he won't run for Tennessee governor in 2010.
Frist emphasized that he's not sitting out the governor's race with an eye toward a potential run for president.
The Nashville Republican says he will instead focus on his global health initiatives, teaching at Vanderbilt University and his private investment work. Frist says he will also launch an initiative to improve K-12 education.
Frist's decision opens the door to what is already shaping up to be a crowded field seeking the GOP's gubernatorial nomination.
The Tennessee Fire Marshal's Office has cleared for opening one of three University of Tennessee fraternity houses that closed last month because of fire code deficiencies.
How do you describe how big an elephant or a giraffe is to someone who can't see? The Nashville Zoo aims to do that with exhibits and signs that let those without sight understand by feel.