Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2005-06-07
2005-06-07
Jeanty, Romain (Department: 3623)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S035000
Reexamination Certificate
active
06904414
ABSTRACT:
A system and method for implementing a mortgage plan. Data is input to a computer system regarding the mortgage terms, and the computer system is used to prepare a mortgage document which creates an equity participation mortgage obligation in which the lender shares in a predetermined percentage of realized appreciation on the subsequent sale of the asset which is the subject of the mortgage. In a particularly preferred embodiment, this mortgage plan can provide the borrower with an interest-free loan, a faster amortization schedule, and a larger, yet more affordable mortgage. The lender also receives substantial benefits, including the potential for a return which exceeds conventional mortgage rate returns, insulation from risk against interest rate fluctuation, and preferred tax treatment in the form of capital gains tax rates paid only upon the subsequent sale of the mortgaged asset. No maturity date need be specified for the mortgage; rather, it may be tied to the ultimate sale of the asset subject to the mortgage.
REFERENCES:
patent: 4876648 (1989-10-01), Lloyd
patent: 4953085 (1990-08-01), Atkins
patent: 5083270 (1992-01-01), Gross et al.
patent: 5644726 (1997-07-01), Oppenheimer
patent: 5673402 (1997-09-01), Ryan et al.
patent: 5689649 (1997-11-01), Altman et al.
patent: 5819230 (1998-10-01), Christie et al.
patent: 5832461 (1998-11-01), Leon et al.
patent: 5852811 (1998-12-01), Atkins
patent: 6-301706 (1994-10-01), None
Stegman “Issue in the design of loyalty sponsored home ownership programs”; Aug. 1993; Journal of the American Planning Assosiation V59n4 PP: 417-432; Dialog file 15 Accession No. 00784593.
“The calm before the storm (Mortgage market may become the key battleground in retail banking in the UK): Mar. 1997”; Retail Banker International, n 368, p 11; Dialog file 9, Accession No. 1811347.
“International Capital Markets: Warburg lauches [GBP] 145m offering Capital Markets News Digest: (SBC Warbug will issue Ukpd145 mil equity-linked morgage-backed bond, first issue of its type)”; Jul. 1997; Financial Times London Edition, p 26; Dialog file 9.
Carlisi et al “Manufacturing Affordable Mortgage”; Apr. 1991; Mortgage Banking V51n7 PP: 61-65; Dialog file 15, Accession No. 00544685.
Iezman “The Shared Appreciation Mortgage and the Shared Equity Program”; Real Estate Review; Dialog File 15, Accession No. 00156819.
Pasternack et al. “How to control the interest and basis problems created by the new types of mortgages”. Taxations for accounts v33n6 PP: 358-362. Dialog File 15, Accession No. 00264151.
Dennis, Marshall W., “Residential Mortgage Lending,” Reston Publishing, 1985, pp. 61-69.
Brueggman, William B. & Stone, Leo D., “Real Estate Finance,” 7thEd., Richard D. Irwin, Inc. 1981.
Jeanty Romain
Mazza Michael P.
LandOfFree
System and method for implementing a mortgage plan does not yet have a rating. At this time, there are no reviews or comments for this patent.
If you have personal experience with System and method for implementing a mortgage plan, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and System and method for implementing a mortgage plan will most certainly appreciate the feedback.
Profile ID: LFUS-PAI-O-3493675