Patent ID: 7941365
Filing Date: 2011-05-10
Classification: G06Q

Abstract:
1. A computer-implemented method of increasing a debt amount associated with a mortgage, said method comprising: issuing, using a data processor, a single sliding equity mortgage that secures a maximum amount of debt and constitutes the only mortgage issued for a property; distributing, upon closing the single sliding equity mortgage, an initial amount of debt that is less than the maximum amount of debt; receiving, using the data processor, data representing a request to increase the initial amount of debt for the single sliding equity mortgage after the issuing of the single sliding equity mortgage; determining, using the data processor, a level of risk associated with a borrower of the single sliding equity mortgage based on credit information of the borrower; calculating, based on the initial amount and the level of risk, a second amount of debt to secure with the single sliding equity mortgage, where a sum of the second amount of debt and the initial amount of debt does not exceed the maximum amount of debt; and increasing, using the data processor, a total amount of debt due on the single sliding equity mortgage to the sum of the second amount of debt and the initial amount of debt, without issuing a new mortgage, wherein the maximum amount of debt associated with the single sliding equity mortgage is dynamic and changes dynamically after the closing based on appreciation or depreciation of an underlying asset associated with the single sliding equity mortgage.