Home ownership payment system and method
US7627509B2 · kind B2 · utility
2Cited by
4References
11Claims
0Family size
Assignee
Inventor
Key dates
| Filing date | May 2, 2006 |
| Grant date | Dec 1, 2009 |
| Priority date | — |
| Expiry date | Aug 28, 2026 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method for providing a line of credit to a mortgagee, while simultaneously paying off the mortgage loan of the mortgagee, by setting up an integrated account comprised of funds periodically deposited therein by the mortgagee with mortgage payment means associated with the account for paying down the mortgage. The account provides a line of credit to the mortgagee based on the equity the mortgagee has in the predetermined value of the property covered by the mortgage, and means are provided for withdrawal of funds from the account by the mortgagee.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.