2nd Loan...I rather use Prosper than my bank
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 18% |
| Lender Rate: | 11% | Borrower: | JustMee |
| Finished | State: | CO | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-07-29 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Jul 28, 2008 | Current |
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Purpose of loan: Prosper has been great at helping me not carry a balance on my credit card. I don't trust those banks...too many stories of rates changing suddenly and without reason. Credit Card's money is too easy to access for no good reason. I like Prosper because: (1) It will be paid off in three years (worse case scenario) (2) If I can not convince at least 100 bidders from a pool of 760,000 members to lend me money, then I should "listen" to the community - it is not a good idea, it is not a good use of the money, I probably can not afford this project ... So here is my idea: I want to learn to fund GOOD loans in Prosper. I want to create historical data based on my own observations. The only way to do that is to bid on real listings. I tried "Fantasy Prosper" but it is hard to be motivated when it is not real money. I know that I can not pick good stocks. I want to know if Prosper can become my "Investment of Choice" for my retirement. The goal is to create a minimum of 8% return on the long run (that is the number I use for my retirement calculations). If I can do that...Prosper here I come with my retirement money!!!! My financial situation: This is a small payment. It will not be a challenge at all to pay this from my Prosper funds (I am a lender that is already receiving $350-$600/month from Prosper.) |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 169307 | Fund my WANTS not just NEEDS | AA | $3,000 @ 8% | Aug 27, 2007 | Loan created |
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