Live Long and Prosper
| Listing Information | |||
|---|---|---|---|
| Amount: | $2,550.00 | Status: | Withdrawn |
| Grade: | AA | DTI: | 12% |
| Lender Rate: | 8% | Borrower: | titaniumtommy |
| Finished | State: | CA | |
| Funded: | 0% | Group: | GROUP CLOSED |
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Why I'm new to prosper and would like to leverage my AA credit to create an arbitrage situation. I want to make money and help others with poor credit make their credit better through Prosper. This is one method of diversifying my portfolio and earning a decent return. Income and Loan Servicing Salary and savingsI make roughly 85-95K anually. I save roughly 1K/month through my employer's stock purchase plan (which nets 10% every 3 months). Also I contribute to my employer's 401K as well as my wife and my own IRA accounts. I have roughly 10K in cash and after tax stock accounts at any given time. I hope to grow my cash holdings through salary increases, prosper lending, and other business ventures until I can purchase a home with more than 33% down payment. Other income I have a minor amount of income from the blogs that I run (about 3-5K/year). This income should increase about 10-20% this year as the focus of my blogs is shifting. One blog has roughly 300 subscribers who receive email regulary from me and drive income. The subscriber list grows on a weekly basis. Also my wife is an artist and sells her work regularly. Why not use my own cash? Well, I am. If Prosper works out for me I will continue investing my own cash as well as experimenting with arbitrage. If Prosper is not for me, I will stop arbitrage and investing in Prosper and payoff all loans I take out immediately while I wait for the money I have lent out to be paid back. Also for all arbitrage loans, I will set aside cash to have 100% backing for all of my arbitrage loans. There will never be a late payment with this loan because 100% of the loan's value will be sitting in a money market or savings account earning interest. This money will be earmarked for the express purpose of paying off this loan in the event of late or delinquent payments from those who are funded with the money from this loan. My money will be earning interest while it protecting the money that I owe you from this loan. Debt We have 1 car loan for roughly13K @ 3.99% that will be paid off in Dec 2006 (1K/mo + lump sum 7K) We have 3 credit cards with roughly 5K each @ 0% that will be paid off with lump sums right before they start accruing interest. About us I am a software engineer at Microsoft Silicon Valley and will be applying for part time MBA programs this fall. My wife is a student who is working on obtaining her Bachelor's of Fine Art at Berkeley. We both have impeccable credit, zero delinquencies and only use credit to build credit for future personal and business real estate purchases. We have two rabbits that we enjoy taking care of. You can see a lot of photos of us on dodoskido.com (just click photo gallery on the top) |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 17578 | Live Long and Prosper | AA | $3,000 @ 8% | Jun 03, 2006 | Loan created |
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