VERY LOW RISK LOAN
| Listing Information | |||
|---|---|---|---|
| Amount: | $4,999.00 | Status: | Loan created |
| Grade: | AA | DTI: | 6% |
| Lender Rate: | 8% | Borrower: | mikey7 |
| Finished | State: | NY | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-07-30 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Jul 28, 2007 | Current |
| Apr 16, 2008 | Payoff in progress |
| Apr 19, 2008 | Paid |
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Purpose of loan: My wife and I recently decided to buy an every other year timeshare for $13,600 in order to save on vacation expenses in the long term. We have 2 children and plan to have more, so we thought that this sounded like a good idea. If we put down 50% on the timeshare, we'll get a 0% interest rate for one year for the rest of the price of the timeshare. This loan will cover almost all of the rest of the 50% that we need in order to get the 0% interest rate. We already put $1400 down. We have money in a CD and in savings, but we want to keep enough there in case of emergencies or in case we need to replace my car that is not under warranty, so that's why we're getting a loan instead. My financial situation: We pay all of our bills each month, including paying off our credit cards each month. We try to handle our money wisely, and we take our obligations very seriously. Monthly net income: $3500 Monthly expenses: $2710 Housing: $720 (including taxes) Insurance: $250 Car expenses: $300 (cars are paid for, so this is just gas and maintenance - I drive a 97 Saturn and it just keeps going) Utilities: $400 Phone, cable, internet: $70 Food, entertainment: $300 Clothing, household expenses $50 Credit cards and other loans: $620 (student loan and upcoming 0% loan for timeshare ($6800)) Other expenses: $ |
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