Recently married, paying off debts...
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Withdrawn |
| Grade: | B | DTI: | 0% |
| Lender Rate: | 34% | Borrower: | MikeD_RI |
| Finished | State: | RI | |
| Funded: | 3% | Group: | (No Group) |
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Purpose of loan: I got married earlier this summer to a wonderful girl, and we hope to start a family soon and eventually move into a bigger house. The idea of paying these debts off in three years is what is very attractive to me, as that's about the time we'd be looking for a bigger house. The purpose of this loan is to pay off credit card and other loan debt that I accrued due to a bad real estate investment a few years ago. You know the story well, I'm sure. Man buys property to fix and resell. Man fixes up property with much blood, sweat, and tears (but keeps it on budget and schedule). Man goes to sell house, only to see bottom drop out of real estate market. Man ends up holding house for two years, paying both the mortgage on his own house AND the mortgage on the "flip". With the $15,000 I am asking for, I plan to pay off an investor who provided some cash up front for the real estate deal ($6,000) and use the other $9,000 to pay off one of my two credit cards on which I carry a balance (and then close the card). My financial situation: I am a small business owner that owns his own home and makes a good income. I work as a consultant to the educational textbook industry, and my clients are very large and stable. My business is having it's best year ever in 2008, we've already exceeded 2007's earnings and show no signs of slowing down. I paid for my wedding earlier this summer in cash, and have taken on very little debt since the above mentioned bad investment. Other than the money owed that will be consolidated into this loan and my mortgage, I have about $11,000 in additional credit card debt (which I may try to pay off with a future prosper loan) and less than $1,500 in student loans. The student loans will be paid off in about a year, if not sooner. Monthly net income: $ 8500.00 Monthly expenses: $ 3670 Housing: $ 1770.00 Insurance: $ 100.00 Car expenses: $ 100.00 (just gas and maintance, car is paid off) Utilities: $ 300.00 Phone, cable, internet: $ 0 (wife pays it) Food, entertainment: $ 300.00 Clothing, household expenses $500.00 Credit cards and other loans: $600 Other expenses: $ 0 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 391783 | Just Married...paying down credit card debt... | B | $9,000 @ 15% | Sep 02, 2008 | Loan created |
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