Pay off High Interest Rate Credit Cards
| Listing Information | |||
|---|---|---|---|
| Amount: | $20,000.00 | Status: | Withdrawn |
| Grade: | B | DTI: | 28% |
| Lender Rate: | 20% | Borrower: | SSSANDMORE |
| Finished | State: | GA | |
| Funded: | 0% | Group: | (No Group) |
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Purpose of loan: I just withdraw my loan and started again. I have credit card debt with interest rates of 22 % and more. This loan will be used to pay off some high percentage credit cards and bring my credit score back over 700. When I set this loan request up I needed to say that it would only be a benefit if I could get %20 or less and didn't so I have restarted. I have a pretty big home which I've lived in since my son was born 20 years ago. My son has his own job now and has moved out, so I want to sell it and get a smaller home. When I started looking I found that due to my credit cards being so high, my credit score has dropped to below 700. The interest rates I can get on a mortgage become much higher when that happens. So, I need to pay off my credit cards and I want to get a lower interest rate to pay down the balance faster and increase my credit score again. Once I do that, I can find a smaller home which will have less housing expenses because I won't be paying for such a large home. I've included a picture of my home, you'll see it's pretty big! That also means I have a lot of yard work which I do myself. I included a picture of my son when he graduated highschool, yes I'm a proud momma, also a picture of my son with my neice and her 2 kids. They are what's left of my family and I love them very much. I spend lots of time with them and with my godchildren who are the loves of my life, but they can visit me in a smaller home! My financial situation: I am a good candidate for this loan because I make good money. I've been a programmer for 25 years, almost 10 with the company I work with now. I have a rental home that pays for itself with an $80 positive cash flow. It's mortgaged to the 80% of it's value which is all you can do on rental property, so I can't get any money out of it yet, but it's always something I can fall back on. I have investments and a 401K, but nothing I can get to quickly or without paying penalties, but they're always there if I need to fall back on them. I've lived in my home 21 years and have been with the same company for 12 years (the first 2 as a contractor). I teach Sunday school and give all my extra time to my family, my godchildren and my friends. That just says that I'm a pretty stable person, just in need of a little help! Monthly net income: $ 4823 Monthly expenses: $ 4820 Housing: $ 1,567 Insurance: $ 65 Car expenses: $ 238 Utilities: $ 250 Phone, cable, internet: $ 440 Food, entertainment: $ 800 (200/week, family dinner every week and my god kids are over every other) Clothing, household expenses $ 100 Credit cards and other loans: $ 1,200 (over minimums) Other expenses: $ 160 (gas!) |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 267180 | Pay off High Interest Rate Credit Cards | B | $20,000 @ 30% | Jan 17, 2008 | Withdrawn |
| 268044 | Pay off High Interest Rate Credit Cards | B | $20,000 @ 20% | Jan 19, 2008 | Loan created |
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