Reducing debt to buy a home
| Listing Information |
| Amount: | $2,500.00 |
Status: | Loan created |
| Grade: | D |
DTI: | 13% |
| Lender Rate: | 18% |
Borrower: |
synacle1
|
| Time Left: | Finished |
State: | FL |
| Funded: | 100% |
Group: |
PsychDoc's Group
|
| Loan Information |
| Loan Status:
| Paid |
Origination Date:
| 2006-05-23 |
EricsCC ROI:
| 17% |
| Status History |
| Jul 12, 2006 |
Current |
| Feb 23, 2008 |
Payoff in progress |
| Mar 01, 2008 |
Paid |
Hello,
Back in 2003 I bought a brand new Yamaha Cruiser with the dreams of riding all over the country and cruising with my friends. Well Since that day I've only put 2012 miles on the bike! So much for that dream... A little over a year ago my old employer went bankrupt. Because of which my finances took a a downturn and a few of my accounts went into default. I've spent the last year repaying my old debts (as you can see by my credit ratings), and am finally current in all my obligations. After talking to a HUD approved councelor I've been placed on a pre-approval home pruchase plan with HUD and the local Housing Agency for the area I live in. In order to qualify for my dream (to own my own home) I have to lower my debt load slightly, and show 9-10 more months of perfect credit history.
The reason I'm looking to the Prosper Members for a loan is simple, to kill two birds with one stone! By securing financing for $2500 I would be able to use those funds to reduce my Motorcycle loan to Blue Book, at which time I can take it to the local dealership and have it sold on consignment as well as list it in the local paper. Furthermore I would in effect be replacing my current loan tradeline with a new one, helping to continue re-establishing my credit.
|
| Borrower's Other Listings |
| 7697 |
Got into a BAD loan, need to refinance |
HR |
$3,000 @ 16% |
Apr 25, 2006 |
Withdrawn |
|
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