<%3Fxml version="1.0" encoding="UTF-8"%3F> How does levitra work » Online Canadian Pharmacy #1 - Best Prices! http://baglady.dreamhosters.com/2007/08/22/the-bagladys-thoughts-and-lending-strategies-on-prospercom/ Attempts at a Sustainable Lifestyle... Thu, 04 Aug 2011 01:25:53 +0000 hourly 1 http://wordpress.org/?v=3.3.1 How does levitra work » Online Canadian Pharmacy #1 - Best Prices! http://baglady.dreamhosters.com/2007/08/22/the-bagladys-thoughts-and-lending-strategies-on-prospercom/comment-page-1/#comment-2726 Prosper Guy Tue, 28 Oct 2008 13:34:36 +0000 http://baglady.dreamhosters.com/2007/08/22/the-bagladys-thoughts-and-lending-strategies-on-prospercom/#comment-2726 I have been lending on Prosper for a little over two years now and have followed some of the criteria you posted as well as some of my own criteria. I have only invested $50, the minimum required, in any one loan to diversify my risk. While nothing is fool proof this has worked for me. I invested about $400 initially and then started reinvesting ALL of the return, which allowed me to reinvest approximately $50 every 4 to 6 weeks. Due to early repayments, I have been fortunate enough to recover the initial $400 and any funds at risk are essentially reinvestment funds. I have had two borrowers who have been delinquent. One was a good risk and made a payment before 30 days passed. Since then the lender has been current. This month I have one delinquency about 15 days. I have emailed through Prosper inquiring if the borrower has a problem but have not heard back yet. This loan has about half the principal paid so if the borrower defaults I will lose approximately $25. My current average rate of return is slightly over 14% but a failed loan or loans will affect that return. I'm not sure I would put more than $400 or $500 of my own money into Prosper but reinvesting has paid off for me. Right now, Prosper is in the process of developing a secondary lending market. So, if you want to sell your portfolio or part of it because you need money quickly, you should be able to do that. Otherwise, you wait for the 36 months to get repaid the loan and interest you've paid out. I have been lending on Prosper for a little over two years now and have followed some of the criteria you posted as well as some of my own criteria. I have only invested $50, the minimum required, in any one loan to diversify my risk. While nothing is fool proof this has worked for me. I invested about $400 initially and then started reinvesting ALL of the return, which allowed me to reinvest approximately $50 every 4 to 6 weeks. Due to early repayments, I have been fortunate enough to recover the initial $400 and any funds at risk are essentially reinvestment funds. I have had two borrowers who have been delinquent. One was a good risk and made a payment before 30 days passed. Since then the lender has been current. This month I have one delinquency about 15 days. I have emailed through Prosper inquiring if the borrower has a problem but have not heard back yet. This loan has about half the principal paid so if the borrower defaults I will lose approximately $25. My current average rate of return is slightly over 14% but a failed loan or loans will affect that return. I’m not sure I would put more than $400 or $500 of my own money into Prosper but reinvesting has paid off for me. Right now, Prosper is in the process of developing a secondary lending market. So, if you want to sell your portfolio or part of it because you need money quickly, you should be able to do that. Otherwise, you wait for the 36 months to get repaid the loan and interest you’ve paid out.

]]> How does levitra work » Online Canadian Pharmacy #1 - Best Prices! http://baglady.dreamhosters.com/2007/08/22/the-bagladys-thoughts-and-lending-strategies-on-prospercom/comment-page-1/#comment-2452 Reality 2008 Wed, 03 Sep 2008 15:55:37 +0000 http://baglady.dreamhosters.com/2007/08/22/the-bagladys-thoughts-and-lending-strategies-on-prospercom/#comment-2452 The problem with UNSECURED DEBT in America Today: 1. Many people are choosing to live DEBT FREE, doing so means your Credit Score is no longer of any value to them. 2. An Unsecured loan is just that, unsecured and if the borrower should CHOOSE to stop paying the debt there is NOTHING YOU CAN DO TO THEM. 3. Collections, is a JOKE. They can call the borrower (the borrower will simply CHANGE THEIR PHONE NUMBER). They can send nasty threatening letters (The borrower can simply shred them because NOTHING will happen). They could take the borrower to court, (If the borrower is like 95% of Americans, they will have ZERO NET WORTH and NO ASSETS so there is NOTHING to sue them for. In fact, Sueing over debt is POINTLESS and SUPER EXPENSIVE for the lender. 4. All someone would have to do is get a prosper loan, withdraw the money from their bank account and start celebrating the FREE MONEY they just got off the SUCKERS who invest in something like Prosper. In todays America, people are very mobile. This means they could TAKE THE MONEY AND RUN to another state and start a NEW LIFE very easily. At the worst, they would have a small mark on their credit that says they never paid. Big Deal. The problem with UNSECURED DEBT in America Today:

1. Many people are choosing to live DEBT FREE, doing so means your Credit Score is no longer of any value to them.

2. An Unsecured loan is just that, unsecured and if the borrower should CHOOSE to stop paying the debt there is NOTHING YOU CAN DO TO THEM.

3. Collections, is a JOKE. They can call the borrower (the borrower will simply CHANGE THEIR PHONE NUMBER). They can send nasty threatening letters (The borrower can simply shred them because NOTHING will happen). They could take the borrower to court, (If the borrower is like 95% of Americans, they will have ZERO NET WORTH and NO ASSETS so there is NOTHING to sue them for. In fact, Sueing over debt is POINTLESS and SUPER EXPENSIVE for the lender.

4. All someone would have to do is get a prosper loan, withdraw the money from their bank account and start celebrating the FREE MONEY they just got off the SUCKERS who invest in something like Prosper.

In todays America, people are very mobile. This means they could TAKE THE MONEY AND RUN to another state and start a NEW LIFE very easily. At the worst, they would have a small mark on their credit that says they never paid. Big Deal.

]]> How does levitra work » Online Canadian Pharmacy #1 - Best Prices! http://baglady.dreamhosters.com/2007/08/22/the-bagladys-thoughts-and-lending-strategies-on-prospercom/comment-page-1/#comment-2216 TheFinanceGuy Fri, 08 Aug 2008 20:36:17 +0000 http://baglady.dreamhosters.com/2007/08/22/the-bagladys-thoughts-and-lending-strategies-on-prospercom/#comment-2216 These are interesting criteria. At first I was also doing this kind of analysis to find the 'good' borrowers. But recently I've done some analysis on the actual loans over the past 2+ years, and found that one could have over 95% current loans with very little work. The secret? Low balance. Really - that's it! The rest takes care of itself. And you can lend to just about any credit grade, although personally I stay with D or better. These are interesting criteria. At first I was also doing this kind of analysis to find the ‘good’ borrowers. But recently I’ve done some analysis on the actual loans over the past 2+ years, and found that one could have over 95% current loans with very little work. The secret? Low balance. Really – that’s it! The rest takes care of itself. And you can lend to just about any credit grade, although personally I stay with D or better.

]]> How does levitra work » Online Canadian Pharmacy #1 - Best Prices! http://baglady.dreamhosters.com/2007/08/22/the-bagladys-thoughts-and-lending-strategies-on-prospercom/comment-page-1/#comment-1925 RPM Millionaire Mon, 02 Jun 2008 17:01:15 +0000 http://baglady.dreamhosters.com/2007/08/22/the-bagladys-thoughts-and-lending-strategies-on-prospercom/#comment-1925 Thanks for going into details about Prosper.com I heard about them on another blog and was considering joining but now I surely will join as part of my financial plan is to invest in mortgages... with Prosper.com I can start with as little as $50 (that's so cool!). I will heed your warnings and insights though. Thanks again. RPM Millionaire --- P.S. I hope I'm not commenting too often on your blog but you got a few posts that interests me... kep up the great work. Thanks for going into details about Prosper.com I heard about them on another blog and was considering joining but now I surely will join as part of my financial plan is to invest in mortgages… with Prosper.com I can start with as little as $50 (that’s so cool!).

I will heed your warnings and insights though. Thanks again.

RPM Millionaire
—

P.S. I hope I’m not commenting too often on your blog but you got a few posts that interests me… kep up the great work.

]]> How does levitra work » Online Canadian Pharmacy #1 - Best Prices! http://baglady.dreamhosters.com/2007/08/22/the-bagladys-thoughts-and-lending-strategies-on-prospercom/comment-page-1/#comment-1878 Suze Orman Expert Sun, 25 May 2008 18:29:02 +0000 http://baglady.dreamhosters.com/2007/08/22/the-bagladys-thoughts-and-lending-strategies-on-prospercom/#comment-1878 I have my own personal finance blog but have not heard of prosper.com before. This is a very interest concept and something that I will definately look further into. Do you know if they have had any problems with scammers or phishing with this site yet? I have my own personal finance blog but have not heard of prosper.com before. This is a very interest concept and something that I will definately look further into.

Do you know if they have had any problems with scammers or phishing with this site yet?

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