Patent ID: 7213001
Filing Date: 2007-05-01
Classification: G06Q

Abstract:
1. A method for restructuring the debt of a debtor who has an interest in a distressed property comprising the steps of: calculating a balance of the debtor's personal debt (B); determining a mortgage balance remaining on the property (M); determining the property's present appraised value (A); calculating a first closing cost (C calculating a second closing cost (C calculating a down payment (D) for reselling the property back to the debtor at the appraised value of the property (A); determining a total cost (T comparing the total cost (T purchasing said property from said debtor, satisfying said debtor's balance of personal debt (B), and reselling said property back to said debtor at the present appraised value of the home (A) if said appraised value of the property (A) exceeds said total cost (T