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Listing Title



Loan Information

Loan Status: Current Origination Date: 2006-12-06 Payments Made: 24 of 36 Total Payments: $13397.12 / $15000.00

Listing Summary

 

Borrower Info

Requested Amount: $15000.00
Lender Rate: 19.00%
Automatic Funding: Yes
Percent Funded: 100%
Monthly Payment: $557.45
 
Borrower: roosternest2002
Location: MI
Group: activeinvestors
Group Fee: 1.00%

Credit Profile

Credit Grade: B Homeowner: Yes Account Verified: Yes Debt To Income: 43%

Extended Credit Data

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Listing Description

I am looking for some help to continue my real estate investment business.  What I do is help good people with bad credit get into nice homes in good areas, help them to repair their credit, and eventually get them a mortgage so they can buy the home from me.  This process can take anywhere from 6-24 months depending on how bruised the buyer's credit is.  The buyer's lease payment makes the mortgage payment and gives me a little extra each month, but I don't realize my true profit until I am able to get the buyers into a mortgage. 
My debt to income ratio is based on my real estate sales business, but the homes I'm leasing out are on my credit report.  My credit score is only a B due to the amount of trade lines I currently have.  I pay all my bills on time, but sometimes the cash flow is tighter than I need it to be.  This loan will help me ease my cash flow position and enable me to purchase this home for another lucky family.
I had to relist due to me being a new prosper member, and not fully knowing that I had to fill out this description.
Please consider helping me to continue to help others.