Buying a condo for my parents

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Listing Information
Amount: $5,000.00 Status: Loan created
Grade: AA DTI: 8%
Lender Rate: 8% Borrower: Chezheng2006B
Time Left: Finished State: AL
Funded: 100% Group: AAAA Fund America
Loan Information
Loan Status: Paid Origination Date: 2006-11-17 EricsCC ROI: 8%
Status History
Nov 22, 2006 Current
Mar 10, 2007 Payoff in progress
Mar 16, 2007 Paid
I am a college professor in the early 40s. My job is to perform biomedical research and to train graduate students and other professional students. I love my job and work hard. I was born in China and immigrated to US more than 15 years ago. I am married with one daughter. She is 8 years old. I am a home owner and have paid off my mortgage on this home. I am very responsible person and like most of the Chinese-Americans I know, never had a late payment. I usually do budgeting very well and never over-spent.

The purpose of this loan is to fund purchasing of a condo for my parents in China (see photo). The old house I grew up and my parents have lived there for 47 years will soon be demolished to make way for a new highway exit. My parents have found a new 2 bedroom condo nearby to buy that will cost $75,000. I was asked to contribute $50,000 to pay for this purchase and I have gathered about $45,000 from various sources. This loan will allow me to fulfill the goal of $50,000 and to wire the fund to China for the purchase. I intend to pay for this loan with my monthly salary. Thank you for your favorable consideration.
 
Borrower's Other Listings
56622 Buying a condo for my parents AA $5,000 @ 7% Nov 03, 2006 Withdrawn
56635 Buying a condo for my parents AA $5,000 @ 8% Nov 03, 2006 Withdrawn

 

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