Re-investing in Prosper, increasing my account fund.
| Listing Information | |||
|---|---|---|---|
| Amount: | $1,500.00 | Status: | Loan created |
| Grade: | AA | DTI: | 28% |
| Lender Rate: | 8% | Borrower: | bugbark |
| Finished | State: | WV | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-10-24 | EricsCC ROI: | 6% |
| Status History | |
|---|---|
| Oct 23, 2007 | Current |
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Purpose of loan: I will be using this loan to increase my ability to invest in Prosper. My plan is to invest in AA,A, B or C grade credit risk borrowers at $50 per loan. With each loan, I expect a payment between 1.75 and 2 dollars a month which will be used to not only pay the monthly payment on this loan, but it will leave extra money to reinvest into more loans. While limiting myself to the above listed grades and the number of loans which I will fund with this (30 at $50 each), I will decrease my risk and still be able to make the monthly payment if one or two default. My financial situation: Currently I am in my last year of residency with a job lined up for next year which will triple my salary. I probably will not carry this loan for 3 years, more likely for 1-2 years. The high number of credit lines is related to student loans with each loan being a credit line (one for fall semester, one for spring for each of the different loans). Monthly net income: $2700 Monthly expenses: $ Housing: $940 Insurance: $ 125 Car expenses: $320 Utilities: $ 200 Phone, cable, internet: $60 Food, entertainment: $ 200 Clothing, household expenses $ Credit cards and other loans: $350 Other expenses: $ |
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