Method for implementing a restructuring exchange of an excessive

Details Method for implementing a restructuring exchange of an excessive Method for implementing a restructuring exchange of an excessive

1994-06-15

1999-02-09

Cosimano, Edward R.

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

705 35, G06F 1760

Patent

active

058707204

ABSTRACT:
A method for restructuring an excessive underlying mortgage in excess of its current market value so that the value of the restructured underlying mortgage and the property to which it attaches exceeds the values prior to the restructuring. The method determines an existing underlying mortgage utilizing parameters which include a principal amount, a maturity date, an interest rate and payment periods. Thereafter, a first market value mortgage portion, which is substantially equal to the current mortgage value of the existing mortgage, and a second excess portion, which is the difference between the remaining principal balance of the existing underlying mortgage and the first market value portion, is determined. As such, the existing underlying mortgage is transferred into or replaced by the first market value portion and the second excess portion so that the principal of the remaining underlying mortgage is, in a most preferred form of the invention, substantially the same as the total of the principals of the first market value portion and the second excess portion. Thereafter, each shareholder's amount and percentage of liability in respect of the assessment in accordance with the number of shares owned by each shareholder is calculated.

REFERENCES:
patent: 4346442 (1982-08-01), Musmanno
patent: 4648038 (1987-03-01), Roberts et al.
patent: 4750119 (1988-06-01), Cohen et al.
patent: 5323315 (1994-06-01), Highbloom

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