Patent ID: 8380589

Claim:
A system for computing and presenting a foreclosure bid on behalf of a holder of a secured loan at a foreclosure sale of property securing the secured loan, comprising: a foreclosure bid information database receiving, storing and maintaining foreclosure bid information applicable to foreclosure sales of property, the foreclosure bid information being relevant to determination of a foreclosure bid likely to yield maximum net proceeds from the sale of the property and including information relating to the rules and laws of plural jurisdictions that govern foreclosure bidding; a foreclosure bid manager accessible to a user through a publicly available data processing network, the foreclosure bid manager computing foreclosure bid information for a user for preparation of a bid that may be entered on behalf of the holder of the secured loan, the foreclosure bid manager receiving inputs from a user relating to a property for which a foreclosure sale is to be held and employing information submitted by the user and stored in the foreclosure bid information database to compute an appropriate bid for the property, to compile a set of bid instructions consistent with the rules and laws which are applicable thereto and including a minimum price to allow for the property the minimum price being a price calculated to yield maximum net proceeds from the property, and to present the bid instructions to the user; and a mortgage information database including information relating to mortgages covered by certificates of mortgage insurance, said information comprising a mortgage insurance certificate number and a delinquency information database and wherein the foreclosure bid manager retrieves loan and delinquency information for a loan associated with a particular mortgage insurance certificate number submitted by the user and processes the information submitted by the user together with the loan and delinquency information and the foreclosure bid information to create foreclosure bid instructions.