AA 0/0/0 Pay Off Loan and Improve My Home
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 17% |
| Lender Rate: | 10% | Borrower: | LizardLender |
| Finished | State: | NY | |
| Funded: | 100% | Group: | AA Superior Funding |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-05-31 | EricsCC ROI: | 7% |
| Status History | |
|---|---|
| May 31, 2007 | Current |
|
I am a CPA and work as a Comptroller of a large school district. I have a wonderful family. I want to take the opportunity to explain my situation. I have always been extremely responsible with my personal financial affairs. As you can see, I have never had a delinquency on my credit. Over the past three years, I have investigated many investment opportunities. One of them is Prosper. I have an almost $12,000 portfolio of loans that, to date, is doing quite well. I have stock accounts in my IRA that have also done well. I have only had one investment that did not go well, a rental property. At first it worked out well because we learned how to be landlords, but our circumstances are such now where we no longer have time for it. We moved, I got a much better job, and we had a child. While we can afford the mortgage empty, we haven?t had the time to keep it rented to enable the sale of the property and we live in an area where real estate hasn?t totally boomed or busted. We are going to auction it off which will require selling it at somewhat less than what we owe on it, approximately $15,000. I want this loan to assist in closing on the sale of the property and the remaining funds will be used to improve the home we live in. The home we live in has turned out to be a wonderful investment. It is in a prime part of our city and since it is a double it generates income too. Let me explain my income and expenses: Monthly income: Net pay of $2276*26 pays/12 months = 4931 salary (this is the documented $80,000/year verified by Prosper), we also have $675/month rental from half our home for a total of $5,606 Bills: Home Mortgage (includes taxes and insurance): $1470 per month Property Mortgage (includes taxes and insurance): $1052 per month (will be replaced by Prosper loan of about $850 per month) Car insurance: $50 per month (the car is paid off and we only have one) Gasoline: $45 per month (I walk to work and it is close) Bus tokens: $4.05 per month (when the weather is bad) Food: $500 per month Heating: average $239 per month Electric: $72 per month Phone: $72 per month (only cell phones) Water: $203 per quarter Garbage fee: $65 per quarter Credit card with revolving balance: $108 per month (all other cards get paid off each month) Church pledge: $225 per month As you can see, we have about $1500 per month to spare on discretionary items. Right now we are using this to save/invest, make minor improvement on our home, have the occasional meal out, and ready our property to sell. We can use this for the Prosper loan, but it isn?t even necessary since the payment will replace the rental property mortgage payment we are currently making. Please consider bidding on my listing. Again, I am very responsible and always pay people and banks back. Thank you. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 53214 | Borrowing to reinvest | AA | $5,000 @ 8% | Oct 25, 2006 | Withdrawn |
| 53223 | Borrowing to Reinvest | AA | $5,000 @ 8% | Oct 25, 2006 | Withdrawn |
| 53228 | Borrowing to Lend | AA | $5,000 @ 9% | Oct 25, 2006 | Loan created |
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