Comments on: Tracking a Bad Prosper Loan

By: mortgage brokers

mortgage brokers — Thu, 13 Nov 2008 15:45:05 +0000

mortgage brokers…

Luckily reports are that students are still able to get these no credit loans despite fewer lenders willing to give these personal loans out to the future workforce. The only difference many are reporting as compared to the past many banks are not comi…

By: passivefamilyincome

passivefamilyincome — Tue, 10 Jun 2008 16:17:44 +0000

7m7y_Jason – Yeah, I plan on sticking with Prosper through the end of the year to see what return I can get. I have since changed my bidding criteria to not include loans like this one. Not sure how much it will help but I will see. Thanks for the visit!

By: 7m7y_Jason

7m7y_Jason — Mon, 09 Jun 2008 19:13:13 +0000

I’ve been in Prosper since their start and have had a few loans go bad as well. Those bad loans have brought my returns down to the same level I could have gotten in a S&P 500 Index fund.

So, for the same returns, I can spend time reviewing loans, placing bids and refining criteria … or I can do nothing.

Plus, my broker will lend me 50% of the value of my S&P 500 fund; but, I cannot find any way to leverage my Prosper notes.

Propser has actually turned out to be fairly unattractive … unless they find a way to eliminate the bad debts so that returns remain higher than the “do nothing” alternatives.

By: The 156th Carnival of Personal Finance: Songs of Summer | Prime Time Money

The 156th Carnival of Personal Finance: Songs of Summer | Prime Time Money — Mon, 09 Jun 2008 11:48:49 +0000

[...] from Passive Family Income presents Tracking a bad Prosper loan, and says, “I am submitting a recent article about a Prosper loan that I invested in that is [...]

By: The Banana Roundup : Week 23 : Personal Finance

The Banana Roundup : Week 23 : Personal Finance — Sun, 08 Jun 2008 16:43:43 +0000

[...] one of the borrowers defaulted on a loan I made through Prosper. Passive Family Income posted about Tracking a Bad Prosper Loan with a borrower who has an A credit rating and is 2 months behind on payments. The important [...]