Market-indexed mortgage system and method
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United States of America Patent
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-
Dec 20, 2011
Grant Date -
Jun 11, 2009
app pub date -
Feb 17, 2009
filing date -
Mar 7, 2003
priority date (Note) -
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status (Latency Note)
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Abstract
A market-indexed mortgage system and method are provided that enable one or more borrowers to finance or refinance a real estate property and have at least a portion of the payments indexed to local relevant real estate values. The mortgage loan provides upfront liquidity to purchase or refinance the property; the borrower has payment stream going back to a lender (or holder of the note) wherein one or more payments are adjusted or determined based on the index. Such market-based mortgage loans can be pooled in a fund and fund shares can be issued against the fund. The mortgage can be a residential mortgage in which the regular (e.g. Monthly) payments (interest and or principal) fluctuate with a price index for the local house market. Balance upon prepayment can also fluctuate with such an index.
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