Thursday, May 24, 2007

Prosper Comeback

Well, things have turned out ok on prosper. After doing some checking up recently, I found that my loan that was late has been paid back. That is a good feeling for me because I was starting to get a little concerned since I expect only about a 5% default rate on my loans; otherwise it just isn't worth it for me.

And now that my loan got paid, I made another small deposit into my account and I've bid on another loan. And I think that will bring the amount of money I will be investing in prosper to a close for a while. I will just continue to keep an eye on the money and if there is a significant sum, I might do another loan, but I think for the next few months my focus is going to be on paying down my personal debt.

2 comments:

Lazy Man and Money said...

I have around 120 loans at Prosper and though they are skewed towards the C,D,E a bit (D and E are probably 55% of my loans), About 15% of my loans are late and the estimated ROI is about 5% from LendingStats.com. I've since stopped lending to E and raised the rates of which I'll lend to a D, but things are getting better. From the Lending Stats website, I'm returning 18+% on all my AA-B loans (probably because they are all current). That's just my short experience for you to have a data point.

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