"AA safe loan for your money - Part III"
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,500.00 | Status: | Loan created |
| Grade: | AA | DTI: | 6% |
| Lender Rate: | 8% | Borrower: | ironclover |
| Finished | State: | SC | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-10-14 | EricsCC ROI: | 7% |
| Status History | |
|---|---|
| Oct 10, 2008 | Current |
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Purpose of loan: Same as the last one. I plan to use the money to buy additional shares of a dividend paying stock that I currently own, while the share prices have gone down. My financial situation: Same as the last one (only a 30-fixed mtg. 5.875%). This will be my third Prosper loan. Monthly Wage Income: $4,290(Gross) $3,030(Net) Monthly Expenses: $2,600 [see a] Housing: $ 870 FICO/Social Security/State: $ 640 [a] Insurance: $ 350 (same) Car expenses (Gas,Insr.,Misc): $ 220 [b] Food, entertainment: $ 200 (same) Utilities: $ 110 (same) Clothing, household expenses: $ 100 (same) Phone, cable, internet: $ 35 [c] Other expenses: $ 75 (same) [a]-Taken from a recent payroll. I intend to reduce the amount taken out for taxes this year b/c we ended up with big refund last year. [b]-I raised this by $20 this time to reflect higher fuel/ins. premiums. Our daily mileage has slightly decreased since my last loan. [c]-We decided we no longer wanted my wife's cell phone. Thiss reduced our expense by more than half. *************************************************************************************** Q: How Do I Intend To Make The Payments? A: Pretty much the same as last time. In addition, I will lower my Flexible Spending Account (FSA) contributions to free up an additional $40/mo (we don't expect to need as much this year). Any Prosper accruals will be used to repay this loan (last two statements show an avg. of about $95 per month). None-wage income contributions... $90 Accruals from my existing Propser loans (actual avg. about $95) $160 Net Dividends from currently held shares last month (actual $159.84-this is monthly income) -------------------------- $250 Total. Prosper's loan calculator shows the payments for this loan to be about $235.02. *************************************************************************************** Q: Your expected non-wage contributions exceed your loan payment. Why don't you ask to borrow more? A: I feel like I can sucessfully deploy the same amount that I borrowed last time and I do not want to tie up all of my non-wage income with this loan. Some of this money will go into repayment, but I want at least a portion of it to go into building up my cash position to protect against Congress...or the unexpected. This is both good for me and my lenders! *************************************************************************************** If still available, please read up on my prior loans before submitting questions. This will maximize the time I have available to respond to any new questions that have not been addressed. - Thanks. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 184162 | "AA safe loan for your money" | AA | $3,000 @ 8% | Aug 09, 2007 | Loan created |
| 258348 | "AA safe loan for your money - Part II" | AA | $7,500 @ 7% | Dec 31, 2007 | Loan created |
| 409007 | "AA safe loan for your money - Part III" | AA | $7,500 @ 7% | Oct 06, 2008 | Withdrawn |
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