EP: No more money out the windows (Vetted)
| Listing Information | |||
|---|---|---|---|
| Amount: | $6,500.00 | Status: | Loan created |
| Grade: | E | DTI: | 21% |
| Lender Rate: | 22% | Borrower: | arcticsnow |
| Finished | State: | IL | |
| Funded: | 100% | Group: | Everyday People |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 2 months late | Origination Date: | 2007-07-19 | EricsCC ROI: | -29% |
| Status History | |
|---|---|
| Jul 19, 2007 | Current |
| Aug 03, 2008 | Late |
| Aug 21, 2008 | 1 month late |
| Aug 22, 2008 | Current |
| Sep 04, 2008 | Late |
| Sep 20, 2008 | 1 month late |
| Oct 20, 2008 | 2 months late |
|
Purpose of loan: My ultimate goal is to pay off ALL credit cards, a high-interest loan, replace 6 rotten windows to improve efficiency in our home, and to refinance our 80/20 2 year ARM mortgages into a 30 year fixed rate within the next 6 months. My financial situation: As you can tell, my wife and I are homeowners with great jobs. I have been a journeyman carpenter for 17 years. In June, 2006, 4 days after closing on our home, I was laid off and was forced to take a pay cut so I could work during the winter. With the unforeseen pay cut, we utilized our credit cards and resorted to payday loans to make ends meet. My wife was fully funded on a loan through Prosper to payoff the payday loans. I now am back to Union work and am sure to have work through the winter, which is the worst part of the year for my profession. The following is the list of items my Prosper loan will pay off so we can have one payment on my debt, be free to tackle the home improvements and pay extra towards my wife?s Prosper loan: Sams Club $444 Capital One $475 Home Depot $341 US Airways MC $471 Walmart $214 Lowes $200 Verizon Wireless $1032 Target $98 Merrick Bank $950 HSBC $669 Heights Finance $1959 (35% interest) I have one delinquency from 2003, thanks to my ex-wife, to Verizon for $1032 which I plan to pay in full with the prosper loan. All other debts have been paid on time never late. Our Current Expenses: Mortgages: $1,418.00 + $482.00 Vehicles: $1,151.00 (2 vehicles) Insurance: $171.54 Utilities: $450 (includes gas, electric, phone, satellite etc.) Credit cards: $550.00 Food: $400 Gas: $540 (for both vehicles) Other household / miscellaneous needs: $350 (personal care, cleaning supplies, Netflix) Home Repairs: $500 Personal loans: $210.00 High interest personal loan: $107.00 (Will be paid off with Prosper loan) Wife?s Prosper loan: $144.58 (https://www.prosper.com/public/lend/listing...istingID=109686) Total monthly expenses: $6274.12 Total monthly income from both spouses: $6791.88 With the credit cards and the 35% interest personal loan paid off, I will have an additional $500.00 to put towards the Prosper loan. My wife and I work very hard and are reliable. Payments on this loan will be automatically deducted. Eliminating the credit card debt will enable me to make more progress in paying down our other debts and saving for the future. I have provided all income documentation to my group leader and thank you for considering this listing. |
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