deck and bills pay down

This is an example of what not to do if you are an E.  First of all, an E credit borrower does not have good credit and so you are already swimming upstream so to speak.

The borrower is a homeowner and a 21% DTI so they have that going for them.

Purpose of loan: I PLAN TO PAY SOME BILLS OFF AND FINISH A DECK FOR HOME IMPROVEMENTS
(explain what you will be using this loan for)

My financial situation: I AM A GOOD CANDIDATE FOR PAYING THE LOAN BACK BECAUSE I MAKE THE MONEY AND I AM TRYING TO GET MY CREDIT BACK UP IN THE HIGH 790 AGAIN
(explain why you are a good candidate for paying back this loan)

Monthly net income: $ 6200

Monthly expenses: $
  Housing: $ 1248+352=1600
urance: $ 76.00
expenses: $ 150.00
ities: $ 250
hone, cable, internet: $ 100
od, entertainment: $ 100
lothing, household expenses $ 100
redit cards and other loans: $ 50
Other expenses: $

Here are 6 problems with the listing. 

1. Misspellings in description 
2. No picture
3. Autofund
4. Low rate for E
5. Does not explain extended credit.  With extended credit like this it is best to be brutally honest.  At least then, lenders are made aware that you are cognizant of the past problems and trying to fix them.
6. High amount request.  E and HR borrower have a hard time borrowing more than a few thousand dollars on Prosper.

 I sent the borrower the following message through the Prosper message system.

Welcome to Prosper.

Not sure if you realize or not but I referred you to Prosper.

I noticed that you have created a listing.  You are doing fine so far, but given your credit it is imperative to create a great listing. I would like to help you get a loan on Prosper.

I write a Prosper Lender Blog (http://rateladder.com/) and run the statistics site ProProsper (http://www.proprosper.com).i/ have written a small tutorial for creating a great listing.  While the tutorial is on my group page, please don’t bother to join a group as it is not needed.

Just looking at your listing you did a couple of things that are easy to fix and make a big difference.

Here is a link to my listing tips… Just the listing tips.
http://www.rateladder.com/group-rateladder-membership-and-listing-requirements/

If your listing is a good example I plan on using my blog to market your listings to my readers.  I think this will further increase your chance of funding.

If you have any questions please don’t hesitate to ask… kevin at proprosper dot com

 

Comments? 

If you are interested in having your listing featured on RateLadder there are 2 ways to make this happen.  You can chose to do both, but only one is necessary for receiving a listing review.

1. Register with Prosper as a RateLadder Referee by clicking the link.
2. Join my group RateLadder — Borrowers Climb Down the Interest Rate Ladder

I cannot write about the extended credit of these listings as that data is protected by the Prosper Terms of Service.  If you are a lender then I encourage you to log in and look for yourself, but if you leave a comment please don’t talk specifically about the extended credit.  If you are not a registered user of Prosper and would like to be a lender I have a referral that will get you a $25 bonus when you make your first loan (click the link).

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Listing Review, Prosper.com, Referral

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