closing in on my slice of heaven
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 11% |
| Lender Rate: | 12% | Borrower: | chefdan |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-08-07 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| Aug 07, 2007 | Current |
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Recently my best friend and myself made a $67,500 offer on a beautiful lot in Virginia Lakes Ca. Our offer was accepted and we are currently in escrow. Since escrow began in June the lot appraised at $75,000 and we are pretty excited about that. We plan to build a simple ski/summer lodge on the lot and enjoy it for years to come as a vacation retreat for us and our families. I plan on using the $9000 loan to cover my half of the down payment. Unfortunately i was not able to upload an image of the property because it was too large. Back in April I purchased my first home(a condo actualy) here in Mammoth Lakes Ca and i tapped out my cash reserves on that down.It would be a shame to miss out on this lot just because i'm cash poor right now! Fortunately my debt on the condo is a mere $77,000 or about $450 a month. Combine my condo debt with my new lot debt and we are still talking about less than $100,000. Not bad for a mortgage and a half in California. Here is a list of my income and current monthly debts: Monthly net income: $2800 from my seasonal(5 months) chef position $500 to $4000 from my catering business $450 from my tenant $4000 monthly average $845 housing $125 health insurance $300 total car expenses $50 utilities $65 phone $300 food, entertainment $250 other expenses Thats about it, about $2000 a month. I have no credit card debt or any other outstanding loans. I live a simple life and am hardly your average consumer. I will be able to quickly get back on my feet again thanks to this cash boost. I will be happy to answer any more questions regarding this loan. thanks for your time! |
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