Help A Great Prosper Borrower Build A Home Office
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 18% |
| Lender Rate: | 13% | Borrower: | rwc8291025 |
| Finished | State: | TX | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-01-16 | EricsCC ROI: | 11% |
| Status History | |
|---|---|
| Jan 17, 2008 | Current |
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About me: I am a 41-year-old attorney, married, and father of two. I have been practicing law for the last 7 years. Over the summer, I was unexpectedly recuited for, and offered, a new job at a substantially higher pay grade (15% increase) and significantly greater responsibility. I took that new job, and it has been a very satisfying and lucrative move for me. Since starting that new job, I have received another 23% pay increase for 2008. (I have withdrawn and relisted my previous two listings after deciding to wait until my raise went into effect in the new year, lowering my DTI ratio.) My first career was in the restaurant business, where I worked in management continuously for the same company for 13 years--from my junior year in college in 1987 until my last year of law school in 2000. Details about the loan/my credit history: We were originally planning to borrow money from Prosper lenders to help replace one or more of the air conditioning units on our house. But, an unexpected windfall in the form of a Christmas bonus has taken care of that. We are now planning to use the loan proceeds to build out some of the attic space in our house as a home office for my law practice. As I explained in the listing for our first Prosper loan, my wife and I experienced some late payments in the past related to my departure from a $100K/year job running the restaurant to attend law school, during which we basically lived on our credit cards, which helps explain the prior delinquencies showing on my credit. (I am unaware of the "zero-balance" current delinquency that Prosper/Experian is showing, but am reseaching the same.) We have been very focused on rebuilding our credit since law school. With respect to our earlier Prosper loan, it has always been paid on time, or often early. Income/loan payback detail: $11280 my take-home pay (after taxes and benefits) -453 car payment 1 -528 car payment 2 -355 home/car insurance -2750 house payment -860 unsecured credit card payments -513 Prosper loan payments (first loan) -700 food -600 utilities (electric, water, sewer, gas) -175 phone, internet, cable -85 cell phones -75 student loan payment $4186/mo. remaining to make timely loan payments. Thank you for considering my loan request! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 93939 | Consolidate High Interest Debt / Make Home Improvements | A | $15,000 @ 14% | Feb 05, 2007 | Loan created |
| 253547 | Complete Needed Home Improvements--RATE CAPPED! | A | $13,000 @ 8% | Dec 19, 2007 | Withdrawn |
| 253622 | Complete Needed Home Improvements--RATE CAPPED! | A | $8,000 @ 8% | Dec 19, 2007 | Withdrawn |
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