Need to finish house, Getting married
| Listing Information |
| Amount: | $18,000.00 |
Status: | Loan created |
| Grade: | B |
DTI: | 12% |
| Lender Rate: | 13% |
Borrower: |
rcm360
|
| Time Left: | Finished |
State: | KS |
| Funded: | 100% |
Group: |
(No Group) |
| Loan Information |
| Loan Status:
| 4+ months late |
Origination Date:
| 2007-04-02 |
EricsCC ROI:
| -36% |
| Status History |
| Apr 02, 2007 |
Current |
| Jul 19, 2007 |
Late |
| Jul 28, 2007 |
Current |
| Sep 18, 2007 |
Late |
| Oct 04, 2007 |
1 month late |
| Nov 03, 2007 |
2 months late |
| Dec 04, 2007 |
3 months late |
| Jan 05, 2008 |
4+ months late |
| Jan 08, 2008 |
3 months late |
| Feb 04, 2008 |
4+ months late |
Dear Potential Lenders,
I purchased my home just over a year ago and was planning on completely remodeling it and then enjoy the fruits of my efforts for years to come. Well, I meet my future wife about 4 months into the project and now we are getting married on Nov. 3, 2007. We have decided to live in her house for a number of reasons, proximity to work, investment potential, lower mortgage, just to name the main factors. The issue is the following: I planned on this remodel project to take 2 years, mainly so I could cash flow the improvements. I am and have done 95% of the work myself. At this point I have two bathrooms to finish and landscaping to ensure curb appeal. Unfurtunately finacially I cannot complete in and get in on the market this summer to ensure the best selling price. Since I refinanced about 6 months ago, the conventional lenders will not loan against the equity because the loan is not "seasoned". I am ready to work and complete my project, all I am lacking is some additional capital.
I would also like to explain some of my credit issues from 3 years ago. I had a partnership that ended in a divorce, which affected my personal financial situation as well. Although I was delinquent of some of my bills, I paid all the principle balances in full and my creditors settled the interest due.
Thanks you for your time and consideration. |
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Discussion For This Listing
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Thu, October 18, 2007
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| Yet another B loan going south. |
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Sat, October 20, 2007
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| I didn't bid on this loan, but did you notice that the endorsements didn't bid on the loan. Too me that's a big hint. They endorsements the person but not enough to bid on the loan. |
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