Cannot lose my home
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 0% |
| Lender Rate: | 15% | Borrower: | MRWhit |
| Finished | State: | OK | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-10-31 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Nov 01, 2007 | Current |
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Purpose of loan: To provide living expenses for another month and to pay down my current card which is about to revert to 33%. My financial situation: I am a degreed Managerial Accountant whose worked in manufacturing and service for 20 years. I started out wearing combat boots between 82-85. I have an entrepreneurial spirit and have tried things off and on for 15 years. I'm a single mom whose raised her son while working 50-60 hours a week. I missed sharing in his life and activities because of my job. At 44, I decided to make a permanent change in my position and work full-time from home. My business required an investment of $3,995 and I have monthly expenses of $1,200 (expenses will decrease). My return is a minimum $1,000 and $3,200. My success depends on building a team of 15 people. The process takes about 60 days to become comfortable in yourself and to build the necessary skills. I am investing in myself and am becoming a better person every day. I'm at the point where everybody gives up. I cannot and will not. This is also the point where things take off. All of my income will go towards paying down my debt base. Once that is accomplished, I plan to pamper myself just a little. I cannot lose my home and blow it for my son. He believes in me. I believe in me. 8 years ago I was involved in an abusive relationship. He destroyed me financially and emotionally. But look at my credit score now. Look at my work history. It didn't stop me and I'm ahead of the game. I will do what it takes to make sure that I don't default ever on a loan. I've owned my home since November 2001, built my own shed, pool deck and porch cover with my dad over a 3-day period. I have a rescue Greyhound and 2 cats. We live minimally - no designer clothes here. Our one treat is brunch after Church on Sunday. We are alone here as my family is scattered across the states. At the end of November should I fail and I don't want to attract failure, I will go back to work. I am employable at $55K + per year. I'll also get a 2nd job if need be. Regardless, I will be debt free at the end of 2008. Monthly net income: $ I expect it to average $10,000 2-3 sales at $3,200 plus 2-3 sales at $1,000 Monthly expenses: $ Housing: $ 1145 includes escrow Insurance: $ 250 life/auto - 16 y/o just started driving. Honor Student. Marching Band. Car expenses: $ 0.00 paid off last month Utilities: $ 200 Phone, cable, internet: $ 200 internet/phone for my business Food, entertainment: $ 400 we stick to our budget with this Clothing, household expenses $ 50 Credit cards and other loans: $ 600 Minimum is about 400 Other expenses: $ 200 |
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