Giving THANKS! Read why! Loan for real estate.
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,100.00 | Status: | Loan created |
| Grade: | C | DTI: | 1,001% |
| Lender Rate: | 19% | Borrower: | hermanita |
| Finished | State: | NC | |
| Funded: | 100% | Group: | Everyday People |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-12-05 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Dec 04, 2007 | Current |
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I am 41, single mom of 2 great boys; 18 & 3. I?m proud to tell you that I am a lender (41 active loans) of prosper AND a borrower. My credit score has increased from a E to a C since I?ve started a business relationship with other proper lenders. As a lender, I understand the awareness of scams that pay off loans early to bail out on the NEXT higher loan. I assure you (and check my history on prosper), I?m here to stay. This is a great tool for me in my real estate business and I intend to keep using prosper for many more loans. My last loan had NO late payments and was paid in full. I do not take more than one loan out at a time until the first one is satisfied. As a borrower, I am excited that my credit score has raised TWO levels, which proves my creditability. I have no DQ?s, PR?s AND I?ve lowered my credit card utilization down from 98% to 60% (and falling!). I take my credit very seriously and if you look at my history, I think you will have to agree with me. As a real estate investor, it can hard to prove income to prosper ?traditional? standards, so it makes it easier for me to not list income. I have posted my tax returns on past listings if you want to see them. I am asking for this money to?re-finance? (finance) a lease option. I?ve held this property for 18 months and want to put it in my own name. It is a pay off from a near foreclosure. I expect my investments to pay for themselves, so I will just put the numbers here needed to support this particular property. I hold 10 other properties, should I need backup for whatever surprise could occur during this loan time. I just lease optioned this property for $85,000 on a 2 year term. The idea is that I get this house in MY name for one year to lower my taxes once the renters exercise their option. Owe on home: ~$51,000 I have an 80% mortgage @ 7.7% for manufactured home = 290.89 per month. Prosper loan (if NO bidding down) = 376.00 That puts my payments ALMOST to the penny that I have been paying the past 18 months. My renters pay $713.00 a month to cover both mortgages. Not much cash flow, month to month, but pay off is nice. I intend to hold this loan AT least 2 years. Either way, in 3 years, my cash flow will be $370.00 more per month. Should renter buy property in two years, I will have well over $24,000 equity left AFTER paying off both loans. Thank you for considering my loan and please feel free to ask me any questions. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 91617 | home improvements | E | $5,000 @ 14% | Jan 31, 2007 | Expired |
| 94628 | Fix credit report | E | $4,500 @ 12% | Feb 07, 2007 | Expired |
| 110721 | Paying off high interest credit cards | E | $5,000 @ 13% | Mar 13, 2007 | Withdrawn |
| 124503 | Down payment on Investment/DTI wrong/max interest allowed | E | $6,000 @ 13% | Apr 16, 2007 | Withdrawn |
| 131900 | down payment needed for investment property | D | $10,000 @ 20% | May 02, 2007 | Loan created |
| 223294 | Last investment successful, ready for a new one. | D | $18,500 @ 20% | Oct 30, 2007 | Expired |
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