Bridge Loan for Construction
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 9% |
| Lender Rate: | 22% | Borrower: | sfbuilder2007 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | FUTURE FINANCIAL FREEDOM 1 |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-06-07 | EricsCC ROI: | -35% |
| Status History | |
|---|---|
| Jun 09, 2007 | Current |
| Sep 23, 2007 | Late |
| Oct 08, 2007 | 1 month late |
| Nov 08, 2007 | 2 months late |
| Nov 23, 2007 | Current |
| Dec 24, 2007 | Late |
| Jan 08, 2008 | 1 month late |
| Feb 08, 2008 | 2 months late |
| Mar 08, 2008 | 3 months late |
| Apr 08, 2008 | 4+ months late |
|
I am seeking a small bridge loan to cover construction costs for the very short term. I have owned a house in an upscale neighborhood of San Francisco (verified by Prosper) for eight years and am close to completion of a to-the-studs remodel of the property. The property has been favorably appraised recently and it will list on the MLS this fall at 1.95M As there is an absence of single family homes of this type in this neighborhood, properties of this type and price range have been selling consistantly and quickly over their asking price. I have worked on this house myself for over 2 years and am very excited to finally sell the property and realize income for myself and my family I have excellent references from numerous mortgage brokers, my bank and my business associates. I am waiting for the paperwork on a refinance deal to be completed (it has been approved but will take a few weeks to fund) and will pay back the Prosper loan in full once it funds I also have 7-10K monthly income from running a vacation rental (another property I own in SF) that you can view here: http://www.tranquilio.com/casa This is a very short term cash-flow issue and I can guarantee the Prosper community a very quick, no-risk return on their investment. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 138480 | Bridge Loan for Construction | E | $11,000 @ 24% | May 16, 2007 | Expired |
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