Friday, October 3, 2008

Prosper Loan - Back on Track!

Last month I wrote about my Prosper Loans and how one of them was late. I took a look yesterday to see how things were coming along. The good news is my late borrower is back up an making payments on time again! All my loans are now current.

I haven't quite decided what I am going to do with my three loans right now. With the financial market being the way that it is, I don't know if I want to continue with this passive income stream or not. I haven't funded any new loans in awhile, and I may just stay that way until I see which way the wind is blowing. Besides, I pretty much need my cash to be liquid at this point.

In other news, I had a friend of mine who has an ING account shoot me a referral link. I am going to put the $550 that I got recently for the security deposit of my tenant into that account. It will then be completely separate from my other finances, (which is a good legal move,) plus the $25 sign up bonus and interest I earn from that account will add to my income. And just to add a few sprinkles on the cake - my friend will get a referral bonus. Don't you just love spreading the financial love around?

More Info on Prosper Loans and Lenders

My First Late Loan with Prosper

Prosperous Lending

Scott on Money - Lending with Prosper, Successes, Issues and Suggestions

Passive Family Income writes about changes he is making on his Prosper lending: Preparing for a Financial Crises


passivefamilyincome said...

Dawn - That is great to hear! I have 3 loans in bankruptcy right with 3 others in a late status out of 54. It will be interested to see what happens. Thanks for the link!

Dawn said...

You are most welcome! I was happy to see my late payer make his way back into current status. I always enjoy reading about your loans and what you are doing with them.