• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Prosper Blog

Personal Loans Home Equity Line of Credit (HELOC)
  • Blog Home
  • Company News
  • Investor Updates
  • Product Announcements
  • Financial Wellness
  • HELOC

Tennessee Daughter Turns Garage into Home for Her Aging Mother

August 31, 2015 by Sarah Cain

As the population ages, there are more people in nursing homes and more adult children caring for elderly parents too. Turning a home into a safe place for the elderly isn’t easy, and families often need to revamp their homes to accommodate adding more people to the same space. That’s what Kelli MacDonald-Risner of Maryville, Tennessee, dealt with after her mother was diagnosed with early-stage Alzheimer’s.

Kelli’s mother raised her and her sister all on her own and worked full time, but was still able to take her daughters on vacations to SeaWorld and other places. A few years ago, Kelli noticed changes in her mom’s behavior and doctors ordered tests to find out the cause — Alzheimer’s. Kelli decided that if her mother couldn’t live on her own then she belonged with her family, so she began making arrangements to move her into her suburban home near the Great Smoky Mountains National Park.

With four children of her own, Kelli and her husband already had a full house. With all bedrooms occupied, the only space that could accommodate her mother was the garage. Kelli decided to remodel it into a small “in-law” apartment, but in order to do that, she needed a loan.

Initially, Kelli’s bank approved the loan application but requested additional information. Then the bank rescinded its offer of credit, saying the loan was a “bad investment.” Kelli was even more determined to get the money so she could help her mother.

Kelli and her husband didn’t know where they were going to find the money for the remodel, but then they saw an advertisement for loans through Prosper on CreditKarma.com. They researched Prosper online and initially thought “it sounded a little too good to be true,” Kelli admits. But they went ahead and applied for a loan.

The application process was quick and easy, and within a week they had their loan. They immediately started the remodeling and in a relatively short time they had turned their old garage into a spacious apartment with a living room, kitchen, dining area, bedroom and bathroom. Kelli’s mom would retain her independence but have the security and peace of mind knowing that her daughter’s family was just steps away.

Kelli is thankful to Prosper and its community for enabling her to care for her mother at her home and to keep her family together.

Note: This post is based on a video submitted to our $2 Billion Strong Contest. To see more videos, visit our Facebook page.

All loans through Prosper are made by WebBank, a Utah-chartered industrial bank, member FDIC.

Share this post:

Share on Facebook Share on Twitter Share on Reddit Share on LinkedIn Share on Email

Financial Wellness, Prosper Blog, Uncategorized

Primary Sidebar

Connect with us

Facebook Twitter LinkedIn

For press releases and media inquiries: Prosper in the News or [email protected]

Categories

  • Blog Home
  • Company News
  • Investor Updates
  • Product Announcements
  • Financial Wellness
  • HELOC

Recent Posts

  • What the Extended Tax Deadline Means for You
  • Paying for Childcare and Receiving Childcare Assistance — What to Know
  • How to Apply for a HELOC Online, Plus 5 Benefits of an Online HELOC
  • Saving vs. Investing: What’s the Difference?
  • 13 Ways to Save Money on a Tight Budget

Prosper LoansFollow

Prosper Loans
ProsperLoansProsper Loans@ProsperLoans·
23h

Considering a #homeequitylineofcredit? You may be wondering about traditional vs. online HELOCs. Here are 5 reasons to apply for a #HELOC online.

Reply on Twitter 1382347159534587914Retweet on Twitter 1382347159534587914Like on Twitter 13823471595345879141Twitter 1382347159534587914
Load More...
  • Financial Wellness
    Using a HELOC to Pay Off Your Mortgage

    Taking out a HELOC to pay off your mortgage is a common practice among many...

  • Financial Wellness, Prosper Blog
    Medical Bill Debt: What Happens If You Don’t Pay Medical Bills?

    Even before COVID, expensive healthcare costs had many Americans wondering...

  • Financial Wellness, Prosper Blog
    What Is a HELOC and How Does It Work?

    As a homeowner, you may be wondering: What is a HELOC? Find out everything...

  • Financial Wellness, Prosper Blog
    Paying for Childcare and Receiving Childcare Assistance — What to Know

    There’s no other way around it, having a child is expensive. It’s a joyous...

  • Company News, Investor Updates, Prosper Blog
    Quarterly Investor Update – Q1 2021

    As we progress into 2021, we would like to provide our investor community a...

Footer

  • Borrow
  • Invest
  • About Us
  • Press
  • Blog
  • Careers
  • Help Center
  • Contact Us
  • Legal
  • Prospectus
  • Financial Professionals
  • Developers

Prosper and WebBank take your privacy seriously. Please see Prosper's Privacy Policy and WebBank's Privacy Policy for more details. Prosper makes no representations as to the accuracy or completeness of any information provided on this Blog, which is intended for discussion purposes only. Opinions expressed in articles posted to this blog are the author’s own and may not reflect the opinions of Prosper. All personal loans made by WebBank, Member FDIC.

Prosper’s Notes are offered by Prospectus filed with the SEC. Notes are dependent for payment on unsecured loans made to individual borrowers. Notes are not guaranteed or FDIC insured, and investors may lose some or all of the principal invested. Prosper does not verify all information provided by borrowers in listings. Investors should review the Prospectus and carefully consider these and other risks and uncertainties before investing. None of the information provided on this Blog is intended to be investment advice.

Prosper Marketplace, Inc. NMLS#111473 (http://www.nmlsconsumeraccess.org)
All HELOCs are underwritten and issued by our banking partners. Refer to www.prosper.com/heloc for more information. Links to third party sites are provided for your convenience and do not constitute an endorsement.

Equal Housing Lender

© 2005-2021 Prosper Funding LLC. All rights reserved.

Copyright © 2021 · Genesis Sample on Genesis Framework · WordPress · Log in

Go to mobile version