Real Estate
| Listing Information | |||
|---|---|---|---|
| Amount: | $21,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 15% |
| Lender Rate: | 13% | Borrower: | EquiHoldings |
| Finished | State: | FL | |
| Funded: | 100% | Group: | Lend2's Group |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2008-07-07 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Jul 09, 2008 | Current |
| Jul 10, 2008 | Payoff in progress |
| Jul 15, 2008 | Paid |
|
I am a sales manager for a mobile home dealership earning $59,160 annually. I am also a lender on Prosper with about 5,000 between my wife?s lender account (jj52206) and mine. We added a little bit out of each of our paychecks each month. We don?t add anymore, & I promise not a penny of this is going into Prosper. We are buying a home through a short sale. This will be OUR primary residence. The owner who is selling the home is 4 months behind on his payment and his bank is agreeing to take a short pay off of 39,500 on a home that has $79,000 balance! All the paperwork and contracts our done and ready for closing! We have been able to save $18,500 of our own money for the purchase. We need to borrow the other $21,000. Whe don't want to use traditional bank financing b/c the closing cost on the loan would be around $4,000. This would be nearly 20% of the loan itself in closing costs!! 2nd reason. The lenders will not take into consideration our house that is rented. The bank will not allow us to have another loan with the first one in place. We have paid off $20,000 in debt in the last 2 years. At the same time adding $5,000 to Prosper while saving the $18.5k! The lates were from 2006. I had a sales job that STUNK that I tried to stick through for a year. The lates were on a CC. It just got VERY tight for about a year. We relocated to allow my wife to teach and I found my dream job. The payments will be auto drafted just as my first one was and always on time. Our goal is to have this House (loan) paid off within 12 months and live with no housing payments forever. Most people don?t truly list all of their expenses. This everything to the dollar! Rent 750 Mortgage 318 ($1,618 - $1,300.00 from renters) Car 0 both paid Car Insurance 60 Gas 125 Oil changes 17 Cable 50 Cell Phone 88 Food 400 Electric 125 Day Care 320 Dental, Vision, 387 Health Misc. 300 Total 2,944 Income 4,930 Income After Tax 3,993 Monthly Surplus 1,049 Wife?s after tax Income 2,564 Grand Total 3,613 *Prosper Loan payment will replace our 750 rent above. **We also have a 550 month income from a home we sold via owner financin |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 85313 | Real Estate Investor | B | $24,189 @ 12% | Jan 15, 2007 | Withdrawn |
| 86828 | Real Estate | B | $5,000 @ 10% | Jan 19, 2007 | Loan created |
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