Refinancing our house

Purpose of loan:
This loan will be used to??My husband and I?have the opportunity to refinance?our house from?our mortgage?s current 5.875% interest rate to only 4.000%, but - because of a lack of equity -?we can't finance the closing costs.?Refinancing will save?us over $190.00 per month, yet this loan will only cost us $90.02 per month, for a net monthly?savings of over $100.00.

My financial situation:
I am a good candidate for this loan because? I have never - not in my entire life - been late on a single mortgage payment, credit card payment, utility bill; you name it. My low Prosper Rating reflects our high credit card balances as a result of our recent wedding. With your help, we can reduce our housing expenses and pay-off those credit cards faster than we would have been able to otherwise. Both my husband and I are gainfully employed in stable, long-term positions in an area?not hit particularly hard by the recession.

Monthly net income: $ 2,562.00

Monthly expenses: $ 1,560.00
??Housing: $ 630.00
??Insurance: $ 0.00
??Car expenses: $ 225.00
??Utilities: $ 115.00?
??Phone, cable, internet: $ 85.00
??Food, entertainment: $ 275.00
??Clothing, household expenses $ 40.00
??Credit cards and other loans: $ 160.00
??Other expenses: $ 30.00

Q: Hi, what is the principle value of your mortgage? How much did your purchase the house for? What is the current value? - interest88

A: Hi interest88, Thanks for the questions. The balance on the current mortgage is $159,500.00, but the new loan will come-in at approximately $162,000.00 due to financed UFMIP. The house was purchased for $163,100.00. As to the current value, it would be difficult for me to answer meaningfully, as this is an FHA streamline refinance that doesn't require an appraisal, but my best guess is that the house has lost no more than 2% of its value since the purchase. (Jul-30-2010)

Q: Thanks, if there is no appraisal, then the lender cannot calculate your loan to value ratio. if that is so, why can't you include your closing costs as part of the low interest mortgage? - interest88

A: Hi interest88, Under current FHA guidelines, financing closing costs requires the property to be appraised. Essentially, our options are to either pay for an appraisal and hope that there's enough equity in the house to both finance the closing costs and meet the FHA's loan-to-value requirements, or pay the closing costs in cash and exempt ourselves from the appraisal requirement and loan-to-value considerations. (Jul-30-2010)

Q: What city are you located in or near? Since you don't have a current appraisal it would help us to be able to look up what the real estate situation is in your area, foreclosure rate, property value trend etc. - trident8

A: Hi trident8, I would focus my research on the Austin-Round Rock-San Marcos Metropolitan Statistical Area. Let me know if I can be of any further assistance. (Aug-01-2010)

Q: Hi, Does your monthly income include your husband's? Is 4% for 30 year's or 15 year's loan? Why does your bankcard utilization is 97%? How many credit cards are you still using? What are your credit limits? Thanks, - p2ploan-sensation211

A: Hi p2ploan-sensation211, No, the amount listed is my income only; Prosper's borrowing guidelines don't allow you to list spousal income, I understand. This is a 30-year loan. Most of our debt is related to our wedding, and my records actually show 91% utilization. We still use many of our credit cards to earn rewards, but we pay-off new charges within the grace period, and we're putting everything we can toward paying them off completely. I have nearly $12,000.00 in revolving credit accounts. (Aug-01-2010)

RETURNING PROSPER CLIENT!

Purpose of loan:
To invest in an award winning real estate mgmt firm in?City of?Chicago.? 38 yrs success & experience.??Their expertise & understanding of all?details of condo association mgmt in a major metropolitan area?sets this firm apart from its competitors.??Confident ROI will be substantial & swift.
My financial situation:
Returning Prosper client.? Previous loan was paid in full, on time.? Employment?& income remain stable.? Credit score has improved >60 points since?last loan.? I am committed to improving my financial standing and keep expenses in line so when an opportunity of this scope presented itself, I am ready to make the investment.
Monthly net income: $ 3,500
Monthly expenses: $?
Housing: $ 0
Insurance: $ 100.00
Car expenses: $ 100.00
Utilities: $ 0
Phone, cable, internet: $ 0
Food, entertainment: $ 300.00
Clothing, household expenses $200.00?
Credit cards and other loans:? ?$625.00?
Other expenses: $0

Q: Could you please explain the $51,370 delinquencies ? Thanks, and good luck ! - riveting-credit5

A: To be perfectly honest, I really don't know what that's all about. When I saw that amount on my report, it caused concern for me too. I absolutely believe this to be incorrect and am in the process of investigating. I don't want to speculate until I have the details. Thank you for your inquiry. (Jul-28-2010)

Pay off Credit Cards

The purpose of the loan to to pay off my some credit card debt and to be back down to zero debt and to get rid of my credit cards and only have one or two?credit cards. I will use about $500 of the loan to work on my online business ideas and to move my online store to a new web hosting site that is better adapted for what I want to do. I have other online business ideas that I am unable to share at this time.

I am a good candidate for the loan, because it will paid off by the 36th month. There is a chance it will be paid off earlier, but it is too early to tell. I will be at my current employment where I have been for over 8 years.

I do hope one day to be a lender of Prosper. But at this time - it is I that needs the help.

Attorney Payoff my credit cards NOW

Im a hard working attorney and professional?that is trying to finalize my?debt consolidation.? I have an excellent payment history and have not been late on any payments in five years.? This loan will allow me to payoff? the credit card companies who increased my apr and limited my credit limit eventhough I have never been late..

Your assistance is deeply appreciated.

Q: Hi, What are your income & expenses? Are you still employed? Any imminent pay cuts or laidoff? thanks. - p2ploan-sensation211

A: My annual salary is 155,000 Im still employed and there is no imminent pay cuts or layoffs. I have a mortgage and car expemses, etc. (Jul-31-2010)

Small Business Expansion

Purpose of loan: I run a network of online health related sites that already bring in revenue. I am looking to expand on this business by developing new, health community tools that will increase traffic, interaction and thus revenue. I have already paid off 2 propser loans on time and I have never missed a payment. I am a full time employee with excellent credit and my debt to income ratio is very low. I am happy to provide examples of my sites to anyone who is interested. Thank you for taking the time to review my listing.

Expanding vending business

Purpose of loan:
This loan will be used to purchase new vending machine equipment to expand my business.

My financial situation:
I could?use personal funds to purchase this equipment outright, but I would prefer to finance it and assume the debt on behalf of my business.

3rd Go NO HR PLEASE READ CR up 80+

Purpose of loan:
This loan will be used to pay off first Prosper?loan early, pay off the LAST credit card I have?and take my wife and kids on a vacation. We have NOT had one in 7 years! We are REALLY due for one!!! This is the 3rd time listing this request. My monthly debts are now $600 less since I have no more child support payments since last week?as my daughter is 18 and going to college on a scholarship! This IS a SOLID RETURN investment for ANY lender! I have raised the interest rate to 35% in hopes of getting funded. My last loan request funded 2 years ago when my score was about 550, now it is 80+ points higher due to my drive to build my credit score back up to AAA! THANKS FOR LOOKING!!!!

My financial situation:
I am a good candidate for this loan because I am honest and a GOOD payer of my debts. Check my status with Prosper. My credit score is up 80+ points since my first loan 2 years ago! I may not have many personal possesions, but what I do have is my honesty and integrity. SHOULD NOT BE rated?HR!!!!!! I DONT know why they rate me as "HR" See my credit score please. Again....This IS a SOLID RETURN for ANY lender! YOU will NOT lose on this investment! Please feel free to send me a message with any questions you may have!?Thanks again!

Monthly net income: $ 2800 (me)? $2100 (wife)

Monthly expenses: $?1900

VMImom has bid a total of $25.00 in winning bids.

"This person is a GREAT payer of his debts! If I had the whole $3500, I would fund the loan myself. He had a work injury about 5 years ago and was out of work for 6 months. That's when his credit score went down. He has been working hard to regain his credit back to A credit. I would definitely fund this loan!"

Q: I notice that you and your wife's income is about $4k a month with $1900 in expenses netting $3k liquid, why can't you pay your debts with that? Seems odd that's all. I bid anyway. Good luck! - StoneBreaker

A: Thanks for the question! The extra money we have is in a savings and retirement account. That money is NOT to be used unless there is a drastic emergency situation. We said to each other 5 years ago that we would NEVER run out of money again! We are ALWAYS covered in ANY situation. Again, I thank you for your question and your bid! (Aug-01-2010)