Method and system implementing a mortgage partnership

Details Method and system implementing a mortgage partnership Method and system implementing a mortgage partnership

1990-03-19

1997-07-01

Hayes, Gail O.

395235, 395236, G06F 1900

Patent

active

056447264

ABSTRACT:
A process of and method for financing purchase of real property by mortgagors through a combination of mortgagee debt principal and partial mortgagee equity interest in the purchased property by a system which both calculates multiple mortgagor financial obligations and mortgagee rights and which prints instruments embodying those obligations and rights. The system also employs generally available house price indices as proxies for equity values, produces periodic reports to mortgagors of obligated balances, and determines mortgagee and mortgagor balances upon sale and/or termination of instruments produced by the system.

REFERENCES:
patent: 4642768 (1987-02-01), Roberts
patent: 4722055 (1988-01-01), Roberts
patent: 4750119 (1988-06-01), Cohen et al.
patent: 4752877 (1988-06-01), Roberts
patent: 4766539 (1988-08-01), Fox
patent: 4774663 (1988-09-01), Musmanno et al.
E. L. Andrews, Patents- Financial Instruments Protected- Dec. 30, 1989 New York Times 1 page.
Donovan, James J. TH, Either A Creditor or A Partner Be, Real Estate Acct & Tax, V4N2 pp. 82-84, 1989 Abstract: AN 89-31939 "Mortgage", Real Estate Software, Abstract (Orbit file Microsearch) AN 85-027439.

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