Getting on Track
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 50% |
| Lender Rate: | 14% | Borrower: | Runningguy |
| Finished | State: | IL | |
| Funded: | 100% | Group: | Super Clean Credit |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-07-30 | EricsCC ROI: | -38% |
| Status History | |
|---|---|
| Jul 27, 2007 | Current |
| Jan 15, 2008 | Late |
| Jan 31, 2008 | 1 month late |
| Mar 01, 2008 | 2 months late |
| Mar 31, 2008 | 3 months late |
| May 02, 2008 | 4+ months late |
|
Purpose of loan: I am getting on track with getting my family in a better financial situation. In the last six months, my father developed skin cancer which I had to help him with financially, my wife's former husband stopped paying a significant child support amount ( in the legal process but it is a very slow process since he is financial wealthy ), my wife lost her job for over three months and my son hits a deer on the expressway of all places. These unfortunate developments and slow reaction to some of those changes we were caught off guard so now it is time to correct the situation. The idea of working with real people who want to help real people was very intriguing. My financial situation: My yearly salary is $70,000 a year this does not include my wife current wage ( she has been on the job since mid June ) and my child support I receive from the ex wife. Some changes we have all ready made to help get us back on track: #1) working with a mortgage company to refinance our home to a lower rate and maybe get a little cash out, #2) my wife's new job will eliminate after school care for our two youngest which can get expensive, #3) taking our phone bill from all the bells & whistles to a basic line a savings of $35.00 a month, #4) Lower our water bill by $15.00 with better full loads laundry, #5 ) grocery shopping at discount stores like Costco & Aldi instead of national chains estimated saving $20 dollars a week average( $80.00 a month ), #6) kids have lost their text message packages $15.00 a month, #7) ordering out is now treat instead of a commonplace so instead of four times a month at $35 to $55 dollares each time we have gone down to once a month savings of $100 a month, 8) air conditioning only being used only on those hot days and even then a humid 88 degree day is seeing the thermostat at 77 degrees. Those are some of the changes we have already made. Monthly net income: $9170.00 with all the current prospects Monthly expenses: $ Housing: $ 3150 ( currently negotiating a lower interest rate ) Insurance: $ 150.00 Car expenses: $ 409.00 Utilities: $ 360.00 Phone, cable, internet: $ 235.00 Food, entertainment: $ 800.00 Clothing, household expenses $ 325.00 Credit cards and other loans: $ 2600.00 Card #1 - $19.967 at 29% Card #2 - $9,532 at 23.0% Card #3 - $8592 at 19.9% Card #4 - $6988 at 14.5% Card #5 - $4953 at 21.0% Card $6 - $3145 at 20.0% Other expenses: $300.00 Total household expenses $8324 with monthly household income of $9170 leaves a positive difference of + $846.00 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 163745 | Stopping the Perfect Storm | B | $25,000 @ 10% | Jul 05, 2007 | Withdrawn |
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