METHOD FOR MODIFYING A LOAN AGAINST PROPERTY THAT EMBODIES NEGATIVE EQUITY

摘要

In one preferred embodiment of the invention, the method for modifying a loan against property that embodies negative equity includes: identifying a summation of current outstanding monies owed by a borrower(s) of a loan, identifying the current value of the property against which a loan has been originated, determining whether the summation of outstanding monies owed is greater than the current value of the property, identifying whether there is mutual desire between a loan borrower(s) and lender to forgive a quantity of the summation of outstanding monies owed, determining the timing and terms under which a quantity of outstanding monies owed by the borrower(s) may be forgiven, and executing the forgiveness.