Home Improvements, 30+ YR A Credit
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|Loan Status:||Paid||Origination Date:||2007-03-23||EricsCC ROI:||13%|
|Mar 22, 2007||Current|
|Oct 03, 2007||Payoff in progress|
|Oct 06, 2007||Paid|
Personal Information: I?ve been happily married for 41 years and have 2 grown children. We?ve owned and have resided in the same home for over 30 years. The picture is of my father and I walking through the yard not long before he passed away.
Credit History: As you can see my credit history is 30+ years long and flawless. I do not use credit cards unless it is for gas or other monthly purchases such as oil for the burner. I have and keep very few credit cards. The current 9% utilization is mostly an oil burner fillup and repairs required within the last 30 days that must have reported before payment was made in full. There are no recent inquiries of any kind and no delinquencies in the entire credit history.
Reason for Loan: This spring I am going to replace the roof and deck on the home as well as update the kitchen for a future sale. This will be the first roof, deck and kitchen work in the 30 year history of the home! Most everything else has been updated in recent years. We plan on staying in the home for another 3-4 years before moving into a smaller home as the kids are grown and the house is larger than we need. With the market still down we figure it's best to fix what we need now and wait for the market to turn.
Employment: The process of listing states I would need this years tax return which I do not have yet and won't for at least 30 days. Reading the instructions I believe I was required to enter no income unless I could provide a 2006 tax return. I work as a consultant and make anywhere from 2,000 to 7,000 a month but again for the purposes of this loan I entered zero. Our housing costs are minimal as we have been in the same home for over 30 years, we drive a mid priced sedan (part of my DTI) and my spouse still works full time as well.
Closing: I have a perfect 30+ year credit history of repaying bills. We have owned the same home for over 30 years and the verification information was sent to prosper and should appear next week. I entered $0 for income to comply with the rules surrounding tax returns but the 30+ year history clearly shows a willingness, committment and ability to pay.