p2p lending at lending club
Get Back On Track: Pay Closing Costs, Taxes & Credit Card
Homeownership Verified

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Listing Information
Amount: $15,000.00 Status: Loan created
Grade: C DTI: 18%
Lender Rate: 18% Borrower: tessvis
Time Left: Finished State: GA
Funded: 100% Group: (No Group)
Loan Information
Loan Status: Default Origination Date: 2007-10-17 EricsCC ROI: -53%
Status History
Oct 17, 2007 Current
May 02, 2008 Late
May 24, 2008 1 month late
Jun 18, 2008 2 months late
Jul 18, 2008 3 months late
Aug 19, 2008 4+ months late
Oct 03, 2008 Default
The purpose of my loan is for me to take a proactive step to rectify my own financial situation.

I am seeking a loan of $15,000 help me get back on track. I need 3k for closing on my refi, I want to pay down my debt and reposition my self to invest in a positive cash flow system.

I am a very new real estate investor and the deal I made was not beneficial for me. I had a mentor and he ill advised me of the pro/cons of the deal. As a result, I am in a property that is worth 100k less than I purchased it for. I bought this rental 3 months after I bought my first home. I was not educated enough to do this deal.

  • I have been trying to refi on my primary home since May so I can have some relief. I have been approved several times but since the sub prime market has busted I have not been able to  get a 100% loan and I do not have the money to close
  • The rental property is in pre-foreclosure on a sub prime mortgage
  • I am behind on my 2007 taxes and solid waste bill for my primary home
  • I was charged $300 in NSF fees due to mentor bouncing two checks
  • I used all of savings and AMEX to cover expenses

I have just enlisted The Short Sale Service, to assist me in a short sale for my rental. The tenant's boyfriend wants to purchase the property. The plan is to simultaneously do the short sale and sell the property to him.

My financial situation:
Prior to this deal, I had a 720 credit score and paid all of bills in a timely manner. When my refi goes through my mortgage payments will go down considerably and I will have enough money to pay the loan back. situation around.

Solid Waste: $384.19, Property Taxes: $3644.70 Monthly net income: $2,716 + $700 (Section 8 & Rent)=$3,416

Monthly expenses:

TYPE:                                               Payment per Month:   
Rental Property                                           1800
Primary Home Mortgage(s) 1st                  1208.86                     
Primary Home Mortgage(s)2nd                  407.88                       
Personal Loan(s)-Credit Cards                  800.00             39,262.82(bal.: $34,008.86 - AMEX, $5,253.96 - Home Depot)
Homeowners Insurance                              279.50(two payments)
Utilities, Food & Gas                                   750.00   
Other ? Miscellaneous Expenses              150.00   
Auto Insurance                                            201.50 (quarterly)&nb 
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