A collaterally secured debt obligation and method of creating same

A collaterally secured debt obligation and method of creating same

A debt obligation issued to a holder by an entity which obligation is backed by a group of property owners, each owning an individual property, where the entity obtains from each owner cross-collateralized lien and loan agreements in which the owners promise to pay his or her periodic payments to th...

Ausführliche Beschreibung

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Bibliographische Detailangaben
1. Verfasser: WILLIAM E KIRKSEY
Format: Patent
Sprache:eng
Schlagworte:
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Beschreibung
Zusammenfassung:A debt obligation issued to a holder by an entity which obligation is backed by a group of property owners, each owning an individual property, where the entity obtains from each owner cross-collateralized lien and loan agreements in which the owners promise to pay his or her periodic payments to the entity and to pay, if defaults occur, each and every other owner's periodic payments. The method of creating and servicing such obligation includes use of calculating equipment. The system includes pre-organization effort to assemble a peer lending group of potential property owners and causing the entity to purchase the homes at a below-market price using temporary financing which is later consolidated in bond financing.