Credit Repair to Refinance our Home.
| Listing Information | |||
|---|---|---|---|
| Amount: | $2,500.00 | Status: | Loan created |
| Grade: | E | DTI: | 8% |
| Lender Rate: | 20% | Borrower: | daisy100 |
| Finished | State: | IL | |
| Funded: | 100% | Group: | Craigslisters |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-01-23 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Jan 23, 2007 | Current |
| Nov 07, 2008 | Late |
| Nov 27, 2008 | Current |
|
We are trying to rebuild our credit so that we may refinance our home and get out of the adjustable rate mortgage at 12% and a second mortgage at 15%. We currently make decent money and have been slowly rebuilding our credit, but the interest rates on our home have been increasing and we need to get into a better position quicker so that we may refinance before the rates go up any more. We heard about prosper on a finance program on the radio and after researching feel that this will work out perfectly for what we need to accomplish. We like the idea that we are all just people helping people and that we aren?t dealing with some big unknown entity like a bank or mortgage company. Explanation of circumstances: Husband lost job due to illness. We incurred medical debt due to the illness. We tried credit repair and all it did was get us further behind and delinquencies on our credit report. We have since gotten most of the credit card debt under control but still have several we need to take care of along with numerous medical bills. We have been trying for almost a year to get disability for my husband and when it comes in it will increase our income by 1150.00 per month. Purpose of Loan: Pay off several credit cards and medical bills to reduce our monthly payments and raise our credit score to eventually be able to refinance our home from an ARM at 12% and a second at 15% to a 30 year fixed rate loan at a lower rate. Explanation for Credit grade/ Delinquencies: Husband lost hours due to illness and eventually lost his job. We tried to use credit repair for our credit cards, which put us further behind. We thought they negotiated a different rate and payment plan with the companies but what they do is have us pay them a monthly amount and then when we have enough saved, they negotiate a payoff. In the meantime late fees and over limit fees keep building up along with delinquencies on our credit report. Occupation: Computer Operator (job title Lead Technical Support Analyst) Length of employment: 1 year at present employer but 22 years in the field. 9 years at my previous employer and 11 at the one before. I lost previous jobs due to bank buyouts. My current employer is not a bank. Total Gross Household Income: 59132.47 Total Net Household Income per month: 3275.00 Mortgage/ Rent: 700.00 Utilities and Gas : 800.00 (I drive 100 miles round trip to work each day) Car Notes: 100.00 Insurance: 325.00 Credit cards and medical bills: 200.00 (will be paying these off) Food: 600.00 Household/misc: 350.00 Total Expenses: 3075.00 Net Income: 3275.00 Left Over: 200.00 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 79985 | Repairing Credit | E | $1,000 @ 20% | Jan 01, 2007 | Withdrawn |
| 81313 | Credit Repair to refinance my home | E | $2,000 @ 25% | Jan 04, 2007 | Withdrawn |
| 305431 | Continuing Credit Repair to Refinance our Home. | E | $7,000 @ 35% | Apr 07, 2008 | Withdrawn |
| 309753 | Continuing Credit Repair to Refinance our Home. | E | $7,000 @ 35% | Apr 20, 2008 | Expired |
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