Eric's Credit Community

**Note*** Lenders I'm re-listing this with a lower loan amount. Due to my state laws the max rate is 23%. I also promise not to pay this off for at least 4 months. I've had two prior loans with Prosper which I paid off early.

I'm in the process of selling my current home. I have a couple of buyers lined up that are in the process of getting approved which will take a couple more weeks to complete.

If both deals fail my friend wants to buy my house but it would be a 1 year lease option for $10,000 and monthly payments of $1300 per month. He's aware my preference to sell but unfortunately for me he can't buy the house outright until a year down the road because of financial obligations he has.

Here are the items that are having a big impact on my scores.

Item #1 ? High Utilization of credit cards. I have three credit cards of which two are maxed out because of moving related expenses. I will pay these off with this loan

Item #2 ? Collection for $70 from General Re. I have since paid the bill

Item #3 ? A thirty day late from Wells Fargo because I didn't pay the accrued interest of $0.65 when I paid off the furniture loan back in Feb 2007.

Monthly Income:

Take Home Pay: $4550 per month (All Health, Dental, Life, 401K, and Taxes have been deducted from Gross Pay which is approximately $7500)
Investment Property Income: $2200

Total Net Income: $6750 per month

Monthly Expenses:

1st Mortgage: $587 (Includes Taxes)
2nd Mortgage: $347
Home Insurance: $38
Investment Property: $1700
Car Payment $508
Credit Card #1 (JC Penney) - $43 ($100 Balance - Limit $1500)
Credit Card #2 (Visa) - $105 ($3000 Balance - Limit $3500)
Credit Card #3 (Sears) - $15 ($300 Balance - Limit $1850)
Credit Card #4 (MasterCard) - $54 ($2000 Balance Limit $5500)
Credit Card #5 (MasterCard) - $40 ($1100 Balance - Limit $1500)
Credit Card #6 (MasterCard) - $90 ($3000 Balance - Limit $3300)
Wells Fargo #1 - $87 ($2400 Balance - Limit $5000)
Wells Fargo #2 - $30 ($1700 Balance - Limit $5000) *Low Interest*
GEMB - $0 ($2400 Balance - Limit $2500) *Low Interest*
Electric: $100 (average)
Gas: $75 (average)
Water: $55 (average)
Cable; $27
Cell - $60
Internet - $38

Total Monthly Expenses: $3999
Liquid Assets:

401k: $39,000

The money from this loan will go to pay off credit cards #2, #6, and Wells Fargo #1. This will resolve the majority of my high utilization issues that are affecting my score.