Cash out 401k
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 27% |
| Lender Rate: | 18% | Borrower: | bjalt |
| Finished | State: | GA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-10-03 | EricsCC ROI: | 17% |
| Status History | |
|---|---|
| Oct 03, 2008 | Current |
|
Purpose of loan: My 401k allows two loans up to 50%. I have two loans but don't have 50% borrowed. I need to pay off a $5,700 loan which will then allow me to take out a $20,000 loan. Depending on the interest rates I will pay off the higher of the prosper loan or some credit card balances I have. My financial situation: Things have been better. I've just gotten divorced and my situation is tight but I'm still cash flowing. Check out my Prosper loan #1. Borrowed $25,000 and have paid it down to $17,000. Monthly net income: $ Myself $5,000 Net of taxes, benefits and 401k contributions Monthly expenses: $ Housing: $ $1,000 Property and and insurance included in payment Insurance: $ 150 month or autos Car expenses: $ 300 Utilities: $ 155 electric (avg for year), $120 gas (avg for year), Water, Sewer, Trash $30 month Cable $70, Internet $43, Cellphone $45 Food, entertainment: $ 600 Clothing, household expenses $ 300 Credit cards and other loans: $ 1,200 credit cards, $137 Car loan Other expenses: $ Dry cleaning, Tivo, Blockbuster $100 That leaves $1,450 in discretionary income to make Prosper payments. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 166461 | Helping mom - low risk loan | A | $25,000 @ 12% | Jul 14, 2007 | Loan created |
| 403230 | Cash out 401k | B | $7,000 @ 22% | Sep 23, 2008 | Withdrawn |
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