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Under this model, at the time a home is purchased, a land equity investor, purchases the land, for cash, and holds title to the land for the exclusive use and benefit of the homeowner during the homeowner's period of ownership, or until such time as the homeowner may elect to purchase the land and merge the two estates.

The homeowner leases the land under a land lease agreement with the land equity investor, which provides the land equity investor with a minimum required rate of return on it's investment at the time the homeowner elects to sell or refinance, plus a share of any appreciation. The homeowner then secures traditional mortgage financing for only the cost of improvements to the land e. Instead of paying lease payments to the land equity investor, the borrower instead pays the mortgage lender a specified monthly amount in addition to the monthly mortgage payment.

This fixed amount is calculated at the time the mortgage is put in place to accelerate the amortized principal under the mortgage sufficient to meet the land equity investor's minimum required rate of return specified in the land lease agreement over a projected period of homeownership and to satisfy the lender's risk requirement.

This extra payment is applied to mortgage principal thus resulting in acceleration of the amortization of the mortgage, and an increase in the borrower's equity in the improvements.

When this increased equity is realized by the homeowner e. It is an object of the present invention to deliver a viable real estate financing structure that significantly reduces the homeowner's monthly mortgage cost. It is a further object of the present invention to deliver a viable real estate financing structure that significantly reduces the homeowner's monthly mortgage cost without increasing lender risk.

It is a still further object of the present invention to deliver a viable real estate financing structure that provides a long-term, low-risk, fixed income opportunity for investing in the real estate market.

There are three parties to the invention, or shared equity model SEM structure; a traditional mortgage lender, a borrower e. Under the disclosed method, the borrower enters into separate agreement with the land equity investor for the use of the land and the mortgage lender to finance the purchase of the improvements to the land. These agreements may be structured to provide significant advantages to all three parties, which are not possible using the prior art methods of financing real estate purchases.

This percentage is then applied to the purchase price set forth in the buyer's and seller's purchase and sale agreement to arrive at an estimated land and improvement value. Prior to loan funding and closing, market value may be confirmed by a third party appraisal, as is currently the practice in traditional residential home financing. The mortgage component of the SEM structure operates similarly to traditional mortgage financing, except that the total amount of the mortgage does not include the value of the land estate.

Under the SEM structure, the borrower finances only the cost of the improvements to the land, resulting in a mortgage amount that is significantly smaller than one incorporating both the land estate and the improvements. This mortgage is similar in all respects to a traditional mortgage, and may be structured in any manner known in the art.

Typically, the mortgage will be some form of a standard 15 year or 30 year fixed or adjustable mortgage. However, any form of mortgage financing suitable for purchasing real estate, whether traditional or non-traditional, may be used. Regardless of the financing method used for the mortgage, the borrower will pay a monthly amount during the mortgage term, which is specified under the mortgage contract.

In addition to the mortgage securing the improvements on the property, the SEM structure pairs a land equity investor with the borrower at the time of the real estate purchase.

This land equity investor purchases the land component of the real estate for cash, and holds title to the land under a defeasible fee simple interest for the exclusive use and benefit of the borrower during the borrower's period of ownership, or until such time as the borrower elects to purchase the land estate from the land equity investor and merge the two estates.

At the time of the transaction closing the borrower and the land equity investor execute a land lease agreement. Preferably, this land lease agreement is structured to provide for an absolute net lease, bond-like investment for the land equity investor.

Property taxes and insurance, for both the land and improvements, are preferably escrowed from the homeowner's monthly mortgage payments and paid by the lender as is the practice with a traditional home mortgage. The land equity investor is the lynchpin in the SEM structure. In order to attract investors to become land equity investors, the land lease agreement must provide a low-risk investment, with an adequate minimum annual return.

To this end, the land lease agreement will preferably include a yield requirement that sets a required minimum annual return for its investment to be achieved over a projected term, or hold period. This required minimum annual return should be sufficient to attract investment from the capital market.

For example, the projected hold period might be set at approximately five 5 years to correspond with the current average length of homeownership based on published industry statistics, or some other relevant market statistic. Additionally, the required minimum annual return may be calculated to emulate a fair market return based on investments of risks similar or equivalent to the risks involved with the SEM structure.

These payments are similar to the monthly mortgage payment in the standard mortgage agreement, except that they reflect a payment only for the use of the land, not an ownership interest.

The amount of the monthly land lease payment is calculated to be sufficient to meet the projected return requirement. Instead of making the additional payments to the land equity investor, the borrower may make this payment to the mortgage lender, as an additional amount in excess of the borrower's monthly mortgage payment. The additional payments will be applied against the principal balance of the mortgage loan, and as a result, amortization under the mortgage is accelerated creating the potential for significant growth in borrower's equity during the period of ownership and reduce lender risk.

The additional payments in the SEM structure are important for three primary reasons. First, as set forth above, they provide for a minimum return to the land equity investor in the event the borrower elects to sell in a relatively short period of time and there is a minimal amount of appreciation in land value to provide a return to the land equity investor, or there simply has been no appreciation in property values.

Second, they provide for a financial off-set to the land equity investor in cases where both estates share in appreciation disproportionately to what occurs in their respective estates and where land has appreciated at a significantly greater rate than what is recognized by the land equity investor.

Finally, they provide for an acceleration in loan pay-off to reduce lender risk. Failure to make the required payment would constitute a monetary default under the existing mortgage. Realization of the value of the lease payments by the land equity investor is preferably deferred until some point in the future. For example, the lease payments may be deferred until such time as the borrower realizes his accelerated equity in the property through transfer of the real estate e.

At the time this equity is realized, it is first distributed to the land investment fund in an amount sufficient to meet the established return requirement, with the remaining balance going to the homeowner.

The SEM structure provides the borrower with lower mortgage payments. By removing the cost of land from the borrower's mortgage obligation, the borrower's required equity down payment for financing the real estate purchase may be reduced. Monthly mortgage payments are lowered, even with the required additional payments land lease payments necessary to service the land investment fund.

In addition, higher interest rate mortgage debt is replaced with lower cost bond-like financing under the SEM structure. The SEM structure provides the borrower no interest rate risk. The borrower has the opportunity under the SEM structure to substitute a fixed-rate, fully amortizing mortgage for an interest only, variable rate mortgage without incurring the full monthly mortgage expense associated with traditional fix-rate financing.

In other words, the borrower can achieve close to, or lower than the same low monthly payment benefit associated with variable rate or interest only programs, but without incurring interest rate risk, and with the opportunity to realize some equity in the property. The SEM structure provides the borrower a lower mortgage interest rate. WebKit based finally! More polished than 5, but familiar Future of JME? JCP Status? Webkit and Javascript support Similar mix of applications to other app stores.

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Screenshot of financial stability report for Coco-Cola Get a Better Picture of a Company's Performance. Available Financial Ratios. Log in with your credentials or Create an account. Use Social Log In:. Forgot your details? As best depicted in FIG. The present invention contemplates communicating with, and obtaining data from, a number of remote databases. A Property Appraiser's database 50 may be accessed to obtain tax information, sales history, assessed values, aerial photographs, property square footage, and owner information.

The present invention further contemplates accessing owner information 80 , whereby the user may obtain owner name, address, telephone, fax, and e-mail. Finally, the invention is adapted to access a County Records database 90 , for obtaining recorded deeds, mortgages, liens, judgments, and outstanding taxes. The present invention thus provides a mobile wireless information system specifically adapted for use in connection with real estate.

The invention is particularly useful to real estate brokers and sales persons, business brokers, mortgage brokers, bankers and lenders, appraisers, developers, buyers and sellers of real estate, contractors, real estate and other attorneys, city officials, land use consultants, surveyors, architects, engineers, and other persons and entities involved in real estate.

As best illustrated in FIG. In addition, an icon 13 corresponding to the position of device 10 confirms the position of the user relative to the surrounding area, while particularly identifying those properties that are available for sale or lease. The user may select a particular property by graphical interface e. Once a given property is selected, PED [] 10 automatically seeks and receives information relating to the selected property via wireless communications, such as wireless Internet access or wireless communication with a dedicated communications hub as illustrated in FIG.

As noted hereinabove, a particular property may be selected by graphical point-and-click on a screen depicted in FIG. In any event, once selected various property specific information may be rapidly obtained via wireless communications. The user is thus able to access the property identification number e. The comparables information is obtained from information compiled and maintained by a third party relating to comparable sales information. Device [] 10 is preferably configured to seek and receive the above-referenced information with a minimum number of required keystrokes or graphical user interfaces.

Among the dedicated features are command buttons corresponding to MLS information 12 , Property Appraiser information 14 , and Comparables information 16 , each of which are configured to access and display information for the selected property with the single push of a corresponding button. Device 10 is preferably configured with communication software including wireless transmission code which eliminates the need for further user input in order to obtain the desired information.

In a similar manner, other real estate related information may be obtained from various databases maintained by third parties. As further depicted in FIG. Accordingly, the communications hub may facilitate communications with a plurality of remote devices [] 10 using proprietary communication protocols developed for this specific application. Accordingly, FIG. An advantage realized by this use of technology is the ability to modify and adapt graphical user interface options by software modification.

A stylus or other suitable pointing device may be used to activate desired input keys. As should be apparent, minor modifications of the log-in screen should be considered within the scope of the present invention. A significant aspect of the present invention involves the refinement of current GPS technology to display each property's location, its street address, and to incorporate more fully defined street address information for each property e. In view of the current state of the art, a significant aspect of the present invention includes improvements in the art of GPS technology to produce a GPS database wherein individual GPS coordinates are linked to actual property addresses and locations to identify individual properties and, via wireless communication, property-related information.

Thus, as seen in FIG. More particularly, the GPS map views may be displayed in a standard view format wherein street names but not individual property addresses are displayed or an address view format wherein individual property addresses are displayed. Once a property is identified, selected, and confirmed a host of available information options may be displayed as shown in FIG.

More particularly, FIG. As depicted in FIG. The instant invention contemplates further capabilities intended to enhance the communication of real estate related information. For example, device [] 10 may further include data storage capability whereby form contracts for the purchase and sale of real property may be stored. In addition, the device may be preferably configured for transmitting a good faith deposit to the listing broker by prompting the user for credit card information sufficient for completion of an electronic transaction whereby funds are credited to the broker's escrow account.

The present invention thus provides a remote, wireless telecommunications system and method specifically adapted for use by real estate brokers, buyers, sellers, and other Market Participants to enable remote access to data and information for a particularly selected property.

The access to the information described herein allows interested parties to immediately access and evaluate real estate related information thus aiding in the efficient purchase and sale of real property. The instant invention has been shown and described herein in what is considered to be the most practical and preferred embodiment.

It is recognized, however, that departures may be made therefrom within the scope of the invention and that obvious modifications will occur to a person skilled in the art. A real estate telecommunications system including a portable wireless electronic device adapted for providing a user, such as a real estate broker or market participant, with real estate related information, said system comprising: a portable electronic device having an electronic display, said device capable of wireless data transmitting and receiving;.

A real estate telecommunications system according to claim 1 , further including wireless means for electronically communicating with a property appraiser's database for obtaining real estate information for said selected property. A real estate telecommunications system according to claim 1 , further including wireless means for automatically accessing a comparable sales database for obtaining comparable sales information for said selected property.

A real estate telecommunications system according to claim 1 , further including wireless means for electronically communicating with a real estate broker identified as a listing broker for said property.