englishman26
10-26-2007, 12:00 AM
Just found this. Sort of the ebay of loans!
www.Prosper.com.
It seems Prosper is an online marketplace where potential lenders are able to partially fund people that may not have any other option or are looking for more competitive rates. Lenders are drawn in by the prospect of high fixed returns. The catch is that you need to find reliable risk and reward and continually make these bets each and every time. You are provided a snap shot of prospective borrowers including late payments, income, debt to income ratios, and also a brief profile personalizing the reason they are looking for a loan. In fact, you’ll sometimes see a suggestive picture on the loan - maybe this is sufficient to fund a horribly rated loan. Well, maybe I’m not surprised but that’s besides the point. You can find folks trying to start a business, guys looking for a down payment on their fiancées engagement ring, others looking to consolidate debt, and of course those thinking they are the next Donald Trump.
www.Prosper.com.
It seems Prosper is an online marketplace where potential lenders are able to partially fund people that may not have any other option or are looking for more competitive rates. Lenders are drawn in by the prospect of high fixed returns. The catch is that you need to find reliable risk and reward and continually make these bets each and every time. You are provided a snap shot of prospective borrowers including late payments, income, debt to income ratios, and also a brief profile personalizing the reason they are looking for a loan. In fact, you’ll sometimes see a suggestive picture on the loan - maybe this is sufficient to fund a horribly rated loan. Well, maybe I’m not surprised but that’s besides the point. You can find folks trying to start a business, guys looking for a down payment on their fiancées engagement ring, others looking to consolidate debt, and of course those thinking they are the next Donald Trump.