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US 2011/0035314 A1Published application
Mortgage Program
AssigneeMari Beth Bolger
InventorDavid Bolger
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AssigneeMari Beth Bolger
InventorDavid Bolger
Estimating the term…
A mortgage plan enabling a customer to enter into a rent-to-own contract with a third-party holding company, in order to enable the customer to purchase an asset such as a home, auto, boat, etc. In lieu of earnest money, the customer may sign a promissory note equal to a predetermined percentage of the purchase price of the home, or a predetermined fixed amount, whichever is greater, for the benefit of the holding company and a loan guarantor. The holding company may contract with a builder to construct the home. A lender may finance the holding company's home purchase with a commercial loan, guaranteed by the loan guarantor. After closing, the customer may move into the home as a renter. A predetermined number of periodic rental payments are made by the customer/renter; from these payments, the guarantor's fee is paid, and the remainder is escrowed. The escrowed funds may then be used as the customer's down payment to purchase the home from the holding company, financed by the lender with a mortgage solely in the customer's name.
A mortgage plan enabling a customer wishing to purchase a home pursuant to a mortgage, wherein the mortgage plan specifies a holding company willing to enter into a contract with a home builder to construct the home, a loan guarantor guaranteeing a loan covering the mortgage, and a lender willing to finance purchase of the home based on the loan, the mortgage plan utilizing a computerized network or standalone workstations along with one or more accompanying software applications and associated hardware as required, to prepare the following documents:
A method for enabling a customer to make a purchase of a home, the method utilizing a computerized environment of workstations with or without servers and one or more specified applications, along with the necessary hardware such as printers and monitors, to prepare the following documents pursuant to a mortgage plan, the mortgage plan specifying a holding company willing to enter into a contract with a home builder to construct the home, a loan guarantor guaranteeing a loan covering the mortgage, and a lender willing to finance purchase of the home by the holding company using the commercial loan, the method comprising the steps of:
A loan or mortgage plan enabling a customer to purchase an asset, wherein the mortgage plan specifies a loan guarantor guaranteeing a loan for the asset, and a lender willing to finance purchase of the asset based on the loan, the mortgage plan utilizing a computerized network or standalone workstations along with one or more accompanying software applications and associated hardware as required, to prepare the following documents:
Dependencies are inferred from the claim text.