Comments on: Map of Nonprime Mortgage Conditions in the United States http://www.lendingstats.com/blog/2008/04/17/map-of-nonprime-mortgage-conditions-in-the-united-states The LendingStats Blog Wed, 07 Jan 2009 13:31:49 +0000 By: Eric http://www.lendingstats.com/blog/2008/04/17/map-of-nonprime-mortgage-conditions-in-the-united-states#comment-3208 Eric Thu, 24 Apr 2008 01:02:09 +0000 http://www.lendingstats.com/blog/2008/04/17/map-of-nonprime-mortgage-conditions-in-the-united-states#comment-3208 "...avoid lending to areas with the most problems." I imagine there is a high correlation between areas that are suffering the most from non-performing non-conforming loans and areas that have the greatest potential borrowers. Hmmm... Might have to look into that. “…avoid lending to areas with the most problems.”

I imagine there is a high correlation between areas that are suffering the most from non-performing non-conforming loans and areas that have the greatest potential borrowers. Hmmm… Might have to look into that.

]]> By: www.P2P-Loans.com http://www.lendingstats.com/blog/2008/04/17/map-of-nonprime-mortgage-conditions-in-the-united-states#comment-3191 www.P2P-Loans.com Wed, 23 Apr 2008 18:24:09 +0000 http://www.lendingstats.com/blog/2008/04/17/map-of-nonprime-mortgage-conditions-in-the-united-states#comment-3191 Thanks for this map - very interesting. I fear we still have a long ways to go before home values are in line with rental rate equivalents and after-tax earnings. That is if the politicians don't intervene and extend the pain longer. Thanks for this map - very interesting. I fear we still have a long ways to go before home values are in line with rental rate equivalents and after-tax earnings. That is if the politicians don’t intervene and extend the pain longer.

]]> By: Rich Lather http://www.lendingstats.com/blog/2008/04/17/map-of-nonprime-mortgage-conditions-in-the-united-states#comment-2809 Rich Lather Sat, 19 Apr 2008 01:50:25 +0000 http://www.lendingstats.com/blog/2008/04/17/map-of-nonprime-mortgage-conditions-in-the-united-states#comment-2809 I'm kinda curious, from an economic theory perspective, how many lenders bump up against, yet, do not cross the $600/year interest income reporting minimum. It seems to me, there would be quite a bit considering most would have to share 1/4 of the profits with the IRS once they pass that threshold. Do I have to pay taxes on the money I make at Prosper? Your income from loan interest is taxable income. Each tax year that you earn $600 or more in interest or $600 or more in borrower fees, Prosper will send you a Consolidated Form 1099 summarizing your taxable interest income or taxable fees, and will report this 1099 information to the IRS. (In some cases, amounts less than $600 may be reported to state tax authorities based on individual state requirements, see below.) Regardless of whether the interest income or fees are greater than or equal to $600, you are required by law to report these amounts on your tax return. I’m kinda curious, from an economic theory perspective, how many lenders bump up against, yet, do not cross the $600/year interest income reporting minimum. It seems to me, there would be quite a bit considering most would have to share 1/4 of the profits with the IRS once they pass that threshold.

Do I have to pay taxes on the money I make at Prosper?

Your income from loan interest is taxable income. Each tax year that you earn $600 or more in interest or $600 or more in borrower fees, Prosper will send you a Consolidated Form 1099 summarizing your taxable interest income or taxable fees, and will report this 1099 information to the IRS. (In some cases, amounts less than $600 may be reported to state tax authorities based on individual state requirements, see below.)

Regardless of whether the interest income or fees are greater than or equal to $600, you are required by law to report these amounts on your tax return.

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