Robert Kathleen Stenson

US Patent:

20090234763, Sep 17, 2009

Filed:

Aug 16, 2007

Appl. No.:

11/840193

Inventors:

Robert E. Stenson - El Segundo CA, US
Gregory T. Rickard - El Segundo CA, US

Assignee:

Equassure, Inc., a Delaware corporation - El Segundo CA

International Classification:

G06Q 40/00

US Classification:

705 35

Abstract:

A method of protecting individual homeowners against a decline in the market value of their specific home during a term which has the steps of defining a strike price, defining a term, designating a surety to purchase the home and providing the homeowner with a unilateral right to sell the real property to the surety at the strike price during the term. The option may include a provision that the home will be purchased within a predetermined amount of time after receiving the notice of exercise of the option from the homeowner. The term may be for any period of time on which the parties agree, although the basic term shall be for as long as the homeowner owns the home. The option may be renewable if for less than as long as the homeowner owns the home. In most but not all cases, the strike price shall be the price at which the home would appraise at the time the option commences. The option shall also include a lock-out period at the beginning of the term during which the homeowner may not exercise the option. In conjunction with the option of homeowner to sell their real property to a surety, additional protection from foreclosure may be offered to the lender in the form of providing the lender with a unilateral right to sell the loan secured by the real property to the surety in the event that the lender records a Notice of Default the real property covered by the option.