Selling home to be with family, taking a loss and need help.
| Listing Information | |||
|---|---|---|---|
| Amount: | $17,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 73% |
| Lender Rate: | 24% | Borrower: | arugula0 |
| Finished | State: | MI | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-05-25 | EricsCC ROI: | 19% |
| Status History | |
|---|---|
| May 25, 2007 | Current |
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Purpose of loan: We have had hardships with jobs in Michigan and recently moved to Tennessee to find employment. After nothing working out there, we are desperate to be back in Michigan with our families again. But unfortunately, we cannot afford to sell our house, due to large prepayment penalties on the mortgage. We are forced to take a loss on the home, simply to be with our loved ones. There is a buyer lined up, and we are ready to sell as soon as we can afford to cover the expenses on our end. We will be living rent-free with relatives while we repay this loan. My financial situation: Please don't let our debt to income concern you. It figures in our current mortgage payment, which is going away with this loan. The purpose of our loan is to sell the property, thus eliminating it. While we repay the loan, we will be living rent-free with relatives. Please also notice that we have excellent credit, would it not be for the high DTI. We have never been deliquent on anything. If you believe there is more to credit than the numbers, that *how* you manage your finances is more important than a composite score, you can see how we are a lower risk than portrayed. Monthly net income: $ 2,500 Monthly expenses: $ Housing: $ 0 Insurance: $ 210 a month for 4 months, then 2 months off Car expenses: $ 230 a month Utilities: $ 0 Phone, cable, internet: $ 0 Food, entertainment: $ 200 a month Clothing, household expenses $ 0 Credit cards and other loans: $ 900 a month Other expenses: $ 0 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 137983 | Selling home to relocate. Need loan for realtor and fees. | C | $17,000 @ 24% | May 15, 2007 | Withdrawn |
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