Patent ID: 7974917

Claim:
A computer-implemented lifetime mortgage conversion engine, comprising: a computer-readable medium on which are recorded executable instructions that are capable of being executed by one or more computer processors, the executable instructions causing the one or more computer processors to: receive, by way of a user input module, data associated with a request for information about a lifetime mortgage on behalf of a mortgagee for a residence of the mortgagee, the lifetime mortgage comprising an initial forward mortgage portion, during which the mortgagee has an obligation to incrementally pay down a balance owed on the lifetime mortgage, and a subsequent reverse mortgage portion, during which the lifetime mortgage accrues interest and the residence is the primary residence of the mortgagee, and the mortgagee is permitted to live in the primary residence without making additional payments on the lifetime mortgage for the remainder of the mortgagee's life; programmatically calculate at least one payment schedule of payments and associated remaining balances for the forward mortgage portion of the lifetime mortgage; programmatically calculate a schedule of reverse mortgage capacities based at least in part on the associated remaining balances for the forward mortgage portion of the lifetime mortgage; programmatically determine, based at least in part on the at least one payment schedule of payments and on the schedule of reverse mortgage capacities, at least one possible lifetime mortgage conversion point at which the reverse mortgage capacity of the lifetime mortgage equals or exceeds a remaining balance associated with the forward mortgage portion of the lifetime mortgage and at which point the lifetime mortgage may be converted from the forward mortgage portion to the reverse mortgage portion; and output, in response to said request, an indication of said lifetime mortgage conversion point.