Trying to buy 1st home-need to consolidate!!
| Listing Information | |||
|---|---|---|---|
| Amount: | $14,200.00 | Status: | Loan created |
| Grade: | D | DTI: | 27% |
| Lender Rate: | 20% | Borrower: | daddy3 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | Everyday People |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 2 months late | Origination Date: | 2007-02-26 | EricsCC ROI: | -20% |
| Status History | |
|---|---|
| Feb 24, 2007 | Current |
| Oct 11, 2008 | Late |
| Oct 27, 2008 | 1 month late |
| Nov 27, 2008 | 2 months late |
|
My name is Chris and I am a devoted husband and father of 2 (with a 3rd arriving in just a few weeks!). I have been employed by Eloan for 3 ½ years now. I have had past credit issues for various reasons. In 1996, our son was born 7 weeks early and our insurance did not cover all the expenses of his 2- week stay in the NICU. Then I took a job that guaranteed that I would make enough money to pay for my work vehicle and tools ($1000 per month) and still make my personal car payments. That did not go as promised, and because I still needed that job, I had a voluntary repo of my personal vehicle in 1999. But now, for the past 3 years all of my current credit accounts are in good standing. Just a few years ago, my credit grade was HR. I want to consolidate my high interest personal loans and credit cards to help raise my credit score so that my wife and I can finally buy a home. All of our lines of credit being maxed, decreases our credit score. So if we could consolidate everything into one loan payment, it would improve our chances of being able to purchase a home soon. It would also save a great deal of money in interest on these accounts. Most of my pay comes from commission, so it varies. I make between $5000 and $8000 per month, and sometimes more. (Mycommission depends on the volume of loans I do, which variesfrom month to month.) For the past 3 years I have grossed at least $100,000 annually. Our monthly expenses average between $4500 and $7000 per month (PLEASE TAXES BELOW FOR EXPLANATION OF LARGEDIFFERENTIAL). Most of our monthly expenses are shared in some part with my mom. She lives with us because she is On SSI and cannot afford to live on her own. Note: For 2006 my gross pay was $106,677.68 and my net pay was $89,097.75, bringing my monthly average to $7424.81, so if my expenses average $7000 per month this allows me $650 per month or better to pay off any DQ?s/collections not covered by my prosper loan. Here is a breakdown of our average monthly expenses: Rent: $1050 (it?s actually $1550 but my mom pays $500 per month) Cars/Insurance: $1200 Utilities: $ 400 Groceries: $ 500 (this is our part) Personal loans/credit cards: $800 Misc.: (entertainment, gas, cell phones, clothes, kids gymnastics, etc.) $1000.00. Taxes: (Fed & State) $24,000 per year (About $6000 every quarter ?(March, June, September, December) So, if you figure what we pay annually, it averages $2000 per month. We pay estimated quarterly taxes because when you work a commission based job, they take about 40-45% out of each check, regardless of your dependents. We put money into savings just for this. We will pay off: Cash Call: $2500 American General: $6400 Nautilus/Bowflex: $2800 B of A: $1500 Aspire Visa: $1000 Capital one: |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 91336 | Tired renting, want a home to call our own!!! | D | $18,000 @ 24% | Jan 31, 2007 | Withdrawn |
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