Reducing high rate 2nd
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,500.00 | Status: | Loan created |
| Grade: | AA | DTI: | 33% |
| Lender Rate: | 8% | Borrower: | ratherbefishing |
| Finished | State: | OK | |
| Funded: | 100% | Group: | Super Clean Credit |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-05-25 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| May 25, 2007 | Current |
| Oct 17, 2008 | Payoff in progress |
| Oct 22, 2008 | Paid |
|
Purpose of loan: This loan is to partially pay down a higher rate second mortgage. My financial situation: I am a masters student at OSU in the Quantitative Financial Economics program. I have a $350 per month research assistantship. I also am self-employed, having earned about $5k in that regard this year. My wife is a financial analyst II, earning about $50k per year plus bonuses. We have about $128k in other financial assets (this is not our home or vehicles), most of which is in completely accessable accounts. As far as liabilities, we do have our mortgage ($61k @ 6.5%) and 2nd ($11.5k @ 11.5%). The home is worth about $80k, so we are ahead $7.5k. We have a car loan at I think 6.5% or 6%. That is $175 per month, with a balance of around $6k or so. Since I have went back to school, I have acquired about $7k in student loans. I do not pay this loan off on a set schedule, but I do not let interest accumulate and allow the loan to grow bigger. Monthly net income: $3600 Monthly expenses: $1785 Housing: $500 Insurance: $390 (home,2 autos,2 life ins, 1 disability policy) Car expenses: $150 Utilities: $70-200 (seasonal) Phone, cable, internet: $190 Food, entertainment: $200 Clothing, household expenses $30 Credit cards and other loans: $175 (car loan) Other expenses: $ |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 134951 | Pay off High Rate 2nd | AA | $11,000 @ 9% | May 09, 2007 | Withdrawn |
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