Patent ID: 7925580

Claim:
A data processing system implemented method for consolidating debt or other financial obligations under an amended real estate financing contract, comprising the steps of: a) maintaining a real estate financing contract with a borrower, with the data processing system, which contract is a loan for a principal amount, established at a first predetermined interest rate, and secured by a mortgage on residential real estate held by the borrower; b) receiving a request by the borrower or its designated representative to assume responsibility to make payments on a new or pre-existing financial obligation, but other than a financial obligation incurred by the borrower on the real estate financing contract; c) engaging in a transaction that combines an outstanding balance on a credit obligation extended for the purchase of the new or pre-existing financial obligation by adding required payments for the new or pre-existing financial obligation to payment obligations required by the real estate finance contract without engaging in a refinancing of the real estate financing contract; d) amending the contract during its term creating the amended real estate financing contract, to account for the merging of payments, and in direct response to the transaction of merging financial obligations and balances, to proportionally increase the first predetermined interest rate to one or more interest rates different from the first such that a combined payment equals the sum of the uncombined payments; and e) receiving combined payments from the borrower pursuant to the amended real estate contract.