Eric's Credit Community

Purpose of loan: To pay off required construction over-runs to satisfy the County Building Inspectors and Home Association in finishing home project. Install fence, lawn, and finish retaining walls.

A Little About Me:
I?m a veteran who served in the U.S. Navy; I?m a full-time quality engineer/supervisor at Microsource Inc. I have been employed here for 14 years this November. I have worked in this field for over 20 years and continue to do work for the U.S. military and large companies like Boeing. But my greatest achievement has truly been my wonderful family.

Our home took over two years to develop, it is now a 2300 sq ft. home on a double lot in a neighborhood with a view of Clear Lake. Our VA Loan was augmented with a remodel loan to fund the addition of the garage, driveway, and decks. This occurred due to my promotion within the Corporation and increased salary. Despite this, I had to take (2) personal loans to put in the driveway and pay the contractor overages on the job. We need this second loan to pay off the small loans to satisfy both the county and home association we live in. In addition we took advantage to increase the size of the home from 1800 sq ft to about 2300 sq ft. We increased the deck posts and beams, and placed about 16 yards of concrete in the driveway. We have worked very hard digging and building stone walls and making the home attractive (we are not complete yet).

This Loan:
$100 prosper lending fee.
$19,000 to consolidate personal loans and credit cards, (with Prosper being able to liquidate these loans in 3 years).

Approximate Budget:
Monthly: $5,754 net pay (If you add $600 rent from my sons, it = $6,354)
Yearly Net: $69,052 (If you add $600 rent from my sons, it = $76,252)

Monthly Expenses:
Mortgages: $2,443
Utilities: $250
Phone/Cable/Internet: $109
Groceries: $400
Car Insurance (2 cars): $113
Gas (work): Paid by company
Prosper Loan: $659
Total = $3,974

Remaining Monthly = $1,780 (If you add $600 rent from my sons, it = $2,380)

Conclusion:
If you take for an example my previous Prosper loan you will see I am a very good credit risk. My credit report shows inaccuracies, especially a double hit showing 1 delinquency, that I paid. Reflect on the last 24 months to get a better picture, there are no late payments. I assure you that I do pay my bills on time, you will not regret taking this risk. Your help is greatly appreciated, my hope is that you can help realize our economic goal of removing contractor housing debt in 3 years via your kind confidence in my family?s integrity.