Payoff High Interest Loans- Misleading DTI
| Listing Information | |||
|---|---|---|---|
| Amount: | $19,500.00 | Status: | Loan created |
| Grade: | A | DTI: | 64% |
| Lender Rate: | 15% | Borrower: | TeacherCoach |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 2 months late | Origination Date: | 2008-03-04 | EricsCC ROI: | -53% |
| Status History | |
|---|---|
| Mar 04, 2008 | Current |
| Aug 19, 2008 | Late |
| Sep 05, 2008 | 1 month late |
| Oct 06, 2008 | 2 months late |
| Oct 16, 2008 | 1 month late |
| Oct 17, 2008 | 2 months late |
| Nov 05, 2008 | 3 months late |
| Nov 21, 2008 | 1 month late |
| Nov 22, 2008 | 2 months late |
|
Purpose of loan: This loan will be used to pay off two high interest (28.9%) loans. My financial situation: I am a good candidate for this loan because I have a steady job, with tenure, that I am good at and enjoy (teacher), and I make all my payments on time. My DTI and revolving balance are misleading, in that my husband and I are both fully responsible for our loans and cards and have two incomes that more than guarantee payments of all our bills, however, only one income is credited on a loan request and figured into the DTI. My husband earns in the low-six figures, and I have no late payments on my credit history. Also, my revolving balance is deceptively high because I have used credit card balance-transer offers of 1.9% - 7.9% good for the life of the loan, to invest at higher returns. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 279343 | Payoff High Interest Loans | A | $19,500 @ 21% | Feb 13, 2008 | Withdrawn |
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