System and method for automatically investing a portion of interest charged in a mortgage installment payment
First Claim
1. A method for repayment of a home loan secured by a mortgage that simultaneously funds an investment account, comprising:
- providing a computer having a memory with associated data input/output and processing means for allocating and crediting a borrowner'"'"'s monthly home loan repayments to the loan provider to an interest repayment account and an equity account and for allocating and crediting to the investment account a monthly savings amount $MSA that is computed by multiplying a monthly interest payment $MINT by a savings rate S(B) that is a function of at least one economic benchmark rate (B), according to the following equation(1);
$MSA=S(B)×
$MINT
(equation
1).
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Accused Products
Abstract
A method and a system are provided to allocate a borrower'"'"'s monthly home loan repayments to a loan provider to an interest payment account and an equity accrual account; and, to further allocate to a retirement or education account a monthly amount of savings that is correlated to that portion of each monthly home loan repayment comprising interest on the loan. The monthly amount of savings allocated to the retirement or education account is computed by multiplying that portion of each monthly home loan repayment comprising interest on the loan by a savings rate that is a function of an economic benchmark.
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Citations
39 Claims
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1. A method for repayment of a home loan secured by a mortgage that simultaneously funds an investment account, comprising:
providing a computer having a memory with associated data input/output and processing means for allocating and crediting a borrowner'"'"'s monthly home loan repayments to the loan provider to an interest repayment account and an equity account and for allocating and crediting to the investment account a monthly savings amount $MSA that is computed by multiplying a monthly interest payment $MINT by a savings rate S(B) that is a function of at least one economic benchmark rate (B), according to the following equation(1);
$MSA=S(B)×
$MINT
(equation
1).- View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20)
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21. A system for repayment of a home loan secured by a mortgage that simultaneously funds an investment account, comprising:
a computer having a memory with associated data input/output and a processing means for allocating and crediting a borrowner'"'"'s monthly home loan repayments to the loan provider to an interest repayment account and an equity account, and for allocating and crediting to an investment account a monthly savings amount $MSA that is computed by multiplying a monthly interest payment $MINT by a savings rate S(B) that is a function of at least one economic benchmark rate, according to the following equation(1);
$MSA=S(B)×
$MINT
(equation
1).- View Dependent Claims (22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39)
Specification