Patent ID: 6904414
Filing Date: 2005-06-07
Classification: G06Q

Abstract:
1. A method of using a computer system for implementing a mortgage plan and preparing mortgage documents specifying payment obligations of a borrower to a lender concerning an asset which is subject to a mortgage, the mortgage plan including an equity participation mortgage obligation in which the borrower is obligated to share with the lender a predetermined percentage of realized appreciation upon sale of the asset, comprising the steps of: inputting data into the computer system regarding the terms of the mortgage, including the principal amount and an amortization period; using the computer system to calculate annual average principal and periodic payment obligations of the borrower accruing under the mortgage obligation; and using the computer system to prepare one or more mortgage documents which specify the equity participation mortgage obligation, including a compensation component returned to the lender and a principal repayment component, that timing of equity participation is indeterminable and is controlled by the borrower, and that the lender shares in a predetermined percentage of realized appreciation on subsequent sale of the asset which is the subject of the mortgage.