Debt consolidation to prepare for home purchase!
| Listing Information | |||
|---|---|---|---|
| Amount: | $4,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 12% |
| Lender Rate: | 10% | Borrower: | Mat_tvoya |
| Finished | State: | OR | |
| Funded: | 100% | Group: | AAAA Fund America |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2006-07-26 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Aug 30, 2006 | Current |
| Sep 03, 2007 | Payoff in progress |
| Sep 08, 2007 | Paid |
|
If you're looking for a sob story about why I need $4,000, I'm sorry to disappoint. I'm interested in trying out Prosper as I've been tracking its growth over the past three months and figure it'd be worth getting in on or near the ground floor. Who I am: I'm twenty-four, employed as a web designer and statistical analyst at a small marketing and public relations firm in Oregon. I'm not married, but in a long-term relationship with a wonderful woman. I love to flyfish, and I have a small side business building custom fly rods (check out my site at http://www.thelongestcast.com, or my eBay listings under 'thelongestcast'). I am a 2004 graduate of Carleton College-- Sociology/Anthropology, and currently a part-time graduate student at the University of Oregon in Archaeology. Why I 'need' $4,000: I don't *need* it, but I would like to take a proactive step in improving my long-term financial situation. I have approximately $4,900 in credit card debt, as well as a $700 graduate course (archaeology) that I'd like to take this summer. The credit card debt is a result of financing a portion of my senior year of college at Carleton College ($40k/yr) when my family's financial situation changed, as well as recent business inventory acquisition costs. Long term goals: I am intending to purchase a home in the next year or so, and would like to decrease my debt:credit ratio in order to secure a better mortgage rate. With my current debt, instead of paying copious interest to Citibank or Washington Mutual, I'd rather pay it to folks who are willing to lend in a free marketplace like Prosper. I have the means to pay off the credit cards over the course of the next two to four years by paying the amount I currently pay, but would like to accelerate the process and lower my rates. My credit: My credit score is a Prosper "B"-- which reflects my relatively high ratio of debt to available credit. I never felt the need to open tens of thousands of dollars of credit card accounts (I've always found it strange that this behavior is rewarded in credit scoring). In my six years of credit history, I have never been delinquent on any accounts, and plan to keep this record. I have $4,500 of debt vs. approximately $9,000 of available credit. My income: I take home approximately $1,800/month from my primary job, and my hobby business nets another $500 or so. My obligations: I have roughly $1000/month of rent, groceries, etc. The remainder goes to incidentals. I typically pay $200-250 towards my credit cards each month-- however, this serves only to hold the balances steady or decrease them slightly. Repayment plan: Although Prosper's loan term is three years, I would like to repay the loan within the next year. Due to a change in my tax status from independant contractor to payroll employee, I have given the Fed a $1,000 loan (estimated tax payments) which will be refunded to me at the end of 2006. Additionally, I plan to redirect my credit card payment of $200 to this loan, which won't create any additional burden on my finances. If you have any questions, please don't hesitate to contact me! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 15449 | Debt consolidation to prepare for home purchase! | B | $5,600 @ 12% | May 24, 2006 | Expired |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|