Has anyone used Prosper.com - Page 2 - cougarguard.com — unofficial BYU Cougars / LDS sports, football, basketball forum and message board

Parrot Head · 09-27-2007, 04:24 AM

I like that a few say the reason for the loan is breast augmentation. I'm going to make my petition for goiter removal. I'll post a pic from the Seinfeld episode.

NorCal Cat · 10-23-2007, 10:33 PM

Aside from that, this is not unlike the trust deed loans. They are basically like a second mortgage, but they are funded by individual lenders. Say Joe Blow's credit score is too low to qualify for a traditional home equity loan for home improvements. Joe can instead borrow money from Jack (thru a firm that handles all administration) at a higher rate than a regular HEL would cost. The loan is secured by Joe's title on his house. If Joe defaults, Jack gets Joe's house. During the course of the loan (typicall 3 years) Jack gets a monthly interest payment, and at the end of 3 years, Jack gets all the principle back.

This site is the same principle, those that can't get loans thru normal means get loans from individuals, at higher rates. No way in hell I loan money to a stranger though, unsecured.

TripletDaddy · 10-23-2007, 10:52 PM

Quote:

Originally Posted by Parrot Head

I repeat, has anyone used www.Prosper.com? It looks completely safe to give my money to complete strangers with piss-poor credit ratings, but I want to know if something should deter me from 24% returns.

Prosper.com is rad.

After I closed out my 12dailypro and Stormpay accounts, I went straight over to prosper.

09-27-2007, 04:24 AM	#11
Parrot Head Senior Member Join Date: Aug 2005 Posts: 763	I like that a few say the reason for the loan is breast augmentation. I'm going to make my petition for goiter removal. I'll post a pic from the Seinfeld episode. __________________ Oh, he's very popular Ed. The sportos, the motorheads, geeks, sluts, bloods, waistoids, dweebies, dickheads - they all adore him. They think he's a righteous dude. - Bronco, when asked how to describe PH

10-23-2007, 10:33 PM	#12
NorCal Cat Senior Member Join Date: Jan 2006 Location: Where do you think? Posts: 1,201	Problem is they are unsecured loans Aside from that, this is not unlike the trust deed loans. They are basically like a second mortgage, but they are funded by individual lenders. Say Joe Blow's credit score is too low to qualify for a traditional home equity loan for home improvements. Joe can instead borrow money from Jack (thru a firm that handles all administration) at a higher rate than a regular HEL would cost. The loan is secured by Joe's title on his house. If Joe defaults, Jack gets Joe's house. During the course of the loan (typicall 3 years) Jack gets a monthly interest payment, and at the end of 3 years, Jack gets all the principle back. This site is the same principle, those that can't get loans thru normal means get loans from individuals, at higher rates. No way in hell I loan money to a stranger though, unsecured. Last edited by NorCal Cat; 10-23-2007 at 11:03 PM.