p2p lending at lending club
Request for 2nd Loan
Homeownership Verified

Click Here to view this listing on Prosper
Listing Information
Amount: $15,000.00 Status: Loan created
Grade: B DTI: 39%
Lender Rate: 16% Borrower: scottishlily
Time Left: Finished State: AL
Funded: 100% Group: (No Group)
Loan Information
Loan Status: 4+ months late Origination Date: 2007-09-19 EricsCC ROI: -56%
Status History
Sep 19, 2007 Current
Aug 03, 2008 Late
Aug 20, 2008 1 month late
Sep 20, 2008 2 months late
Oct 20, 2008 3 months late
Nov 20, 2008 4+ months late

This is a relist of #197655 ? more detail/better explanation. Thanks to all who bid on that listing. The wrong DTI of 40% was causing the funding of that listing to move at a snail?s pace. Improved DTI by editing profile to incl 04/07 raise to 46410 from 44625. Not enough to improve DTI by 14%.  Prosper loan ($271.14/mo pmt) must have posted as paid off 

Refi'd house to get out from under PMI. Lender required DTI of <=45% , incl mortgage. Options were to payoff/close acct with either Home Depot or Prosper. By closing HD it would have skewed my debt to available credit ratio, so I chose Prosper to protect credit score.
Reason for this loan request:
1)Payoff Home Depot. $6300 / 2)Payoff Lowe?s card. ($725)/ 3)Sell 2002 VW Passat to Driver?s Way. Will take $4K loss. Finance sister?s 2002 Honda Accord for $8400@6.5% for 5 yrs. ($4000)
4)Pay 2K @  towards InfiBank and MSCU LOC to lower debt to available credit ratios ($4000)

Mo Bring Home = $3120
New Budget
1st mort = 631/2nd - $198 ? both paid ahead til 05/01/08
InfiBank = 150
New Prosper Loan - $537/(worst case $15K/17.25%)
MSCU LOC* - 165 
HD ? 0 ? payoff
New MSCU Car Loan - $165 - repl curr car pmt of $302/mo for VW 
Lowe?s ? 0
Groceries- $200(incl cat food/litter)/Eating out/entertainment -$100
Gas - $300/Cable- $30/Water (septic)- $30/Power - $150
3120 - 2656 = $464 after expenses 
DTI Calc = 150+537+165+165=1017
1017/3867.50 = 26%

Borrower's Other Listings
103752 I'd rather you prosper than the banks D $7,500 @ 13% Feb 26, 2007 Withdrawn
104037 I'd rather pay you than the banks D $7,500 @ 18% Feb 27, 2007 Loan created
197655 Me Again - DTI is not right B $15,000 @ 17% Sep 05, 2007 Withdrawn
295609 3rd loan - 0 lates/0 DQs D $10,000 @ 20% Mar 19, 2008 Withdrawn
296076 3rd loan - 0 lates/0 DQs D $5,000 @ 22% Mar 20, 2008 Loan created

 

Discussion For This Listing
View Recently Discussed Listings »

No Comments Found For This Listing

Post A Comment
You must be logged in to post comments on listings. Not yet a member? register here