Patent ID: 7747525
Filing Date: 2010-06-29
Classification: G06Q

Abstract:
1. A system for customizing a fixed rate mortgage, the system comprising: a storage device having sets of processor readable instructions stored thereon; and one or more processors coupled with the storage device, wherein the one or more processors are configured to read and execute the sets of processor readable instructions, wherein the processor readable instructions when, executed by the one or more processors, cause the one or more processors to: receive identification of the fixed rate mortgage; access information about the fixed rate mortgage by the identification; identify at least a first characteristic of the fixed rate mortgage to be modified; receive account owner authorization for a first funds transfer to the fixed rate mortgage in order to facilitate modification of the first characteristic; monitor the fixed rate mortgage, wherein a change above a predetermined threshold value in a second characteristic of the fixed rate mortgage is detected; receive account owner authorization for a second funds transfer to the fixed rate mortgage in order to facilitate modification of the first characteristic to compensate for the change in the second characteristic; and based at least in part on the modified first characteristic and the changed second characteristic, customize the fixed rate mortgage, wherein the customizing of the fixed rate mortgage includes altering repayment of the fixed rate mortgage based on planning instructions of the modified first characteristic and the changed second characteristic.