Prosper Lender Becomes Prosper Lender (Please...)
| Listing Information | |||
|---|---|---|---|
| Amount: | $18,950.00 | Status: | Loan created |
| Grade: | AA | DTI: | 15% |
| Lender Rate: | 11% | Borrower: | JobLowe |
| Finished | State: | OR | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-04-02 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Apr 02, 2007 | Current |
| Jul 03, 2007 | Payoff in progress |
| Jul 10, 2007 | Paid |
|
Hey fellow Prosperians! I?ve funded enough Prosper loans to know that less is more. Fundamentals first, commentary to follow. I?ve been with the same nonprofit agency for almost 11 years. I earn $27 and change / hr. I?m on salary for 173.34 hours per month. My credit speaks for itself. My monthly NET is $3,736. My expenses are: Paying myself first (Investments, Savings & Charities) $250 Mortgage $751 Escrow (taxes, home & flood insurance) $375 Health Insurance $194 Groceries $550 Electric $90 Natural Gas (annualized average) $98 Water & Garbage $101 Vehicle Insurance $98 Phone, Cell and Internet $170 DirecTV $90 Medical Bills (total of around $2k) $300 Clothing $80 403(b) Retirement Loan Replacement ($15k 45 months left) $340 Bills that don?t come due every month* $71 Totals Expenses $3,558 *Bills that don?t come due every month (car repairs, school supplies, hair cuts, etc.) run us around $850 a year. We pay them every month so emergencies are rare. The balance gets eaten up with incidentals. My wife also brings home $500 a month as a Teacher?s Assistant. I mention her income only to demonstrate the health of our cash flow, handling of incidentals, and ability to accommodate the unexpected. For your reference here are a couple of links to screen capture images of my Prosper activity. http://i158.photobucket.com/albums/t115/JobLowe/LendOverview.jpg http://i158.photobucket.com/albums/t115/JobLowe/LendOverview.jpg With this loan I plan to wipe out my 403(b), medical and address an impending challenge. It will lower my monthly payments (especially if my interest rate drops), put resources back to work in my retirement program, accelerate the amortization of my 403(b) by 11 months and provide liquidity for the purpose described below? Those who are only interested in the fundamentals can drop to bid or hit the back button now, thanks either way. Those of you interested in why I?m looking for a loan please read on. 17 years ago I married my first wife. It was a train wreck but it produced two children I love very much. My second wife and I have been married over ten years and have a third child between us. In January 2006 we welcomed the first two kids into our home. We took the 403(b) loan to clear medical debt and finance the attorney fees to wage a bitter custody battle (still not settled 15 months later). The public record you see is a child support order ? which actually spawned this listing. Oregon requires Support Enforcement to collect on behalf of TANF (welfare) recipeints which included my ex-wife. When the kids came to live with us, I terminated the Support Enforcement case but never thought about the Order that gave them collection authority. I assumed my Status Quo custody order put everything on hold. The upshot is, even though the kids have lived with us for over a year without a dime of support from her, I was wrong. The base order has been accruing, her Legal Aid attorney caught it, my $175 an hour guy didn?t so I?m on the hook for it (at least until my lawyer can quash it). At the moment the support accrual is $4k and change. I have a couple thousand (and confidence my attorney can set things right quickly). The balance (if any) will help fund the good fight. Thank you for browsing. I want to assure you that your investment is in safe hands. I?m always happy to answer your questions. I appreciate your t |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|