Comments on: links for 2007-05-29 http://www.getrichslowly.org/blog/2007/05/29/links-for-2007-05-29/ Common sense advice on money saving tips, how to get out of debt, high interest savings accounts, cd rates, money market accounts, mortgage rates, money management and more. Fri, 10 Feb 2012 02:33:47 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Anna http://www.getrichslowly.org/blog/2007/05/29/links-for-2007-05-29/comment-page-1/#comment-87886 Anna Wed, 30 May 2007 20:25:28 +0000 http://www.getrichslowly.org/blog/2007/05/29/links-for-2007-05-29/#comment-87886 Actually, it looks like the average credit grade for the borrowers wasn't incredibly low. http://www.lendingstats.com/memberProfile?lenderId=bestbuy Actually, it looks like the average credit grade for the borrowers wasn’t incredibly low.
http://www.lendingstats.com/memberProfile?lenderId=bestbuy

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]]> By: Greg C. http://www.getrichslowly.org/blog/2007/05/29/links-for-2007-05-29/comment-page-1/#comment-87757 Greg C. Tue, 29 May 2007 22:11:40 +0000 http://www.getrichslowly.org/blog/2007/05/29/links-for-2007-05-29/#comment-87757 Wanted to add: About getting "greedy" with high interest- that's the only way you can lend to people without great credit, and certainly many people lend for the Social aspect ( helping someone out, helping people rebuild, investing in your favorite social causes,etc). Otherwise you will be lending only to people with perfect listings who could probably get a bank loan or 0% card offer. The rates correspond somewhat to the risk and sadly to really make money off the people with troubled credit you need to make your rates HIGHER ( How is that for greedy). Caps make it impossible to really make it attractive to lend unless you really are lending to help and dont care if you are repaid. Wanted to add: About getting “greedy” with high interest- that’s the only way you can lend to people without great credit, and certainly many people lend for the Social aspect ( helping someone out, helping people rebuild, investing in your favorite social causes,etc). Otherwise you will be lending only to people with perfect listings who could probably get a bank loan or 0% card offer. The rates correspond somewhat to the risk and sadly to really make money off the people with troubled credit you need to make your rates HIGHER ( How is that for greedy). Caps make it impossible to really make it attractive to lend unless you really are lending to help and dont care if you are repaid.

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]]> By: Greg C. http://www.getrichslowly.org/blog/2007/05/29/links-for-2007-05-29/comment-page-1/#comment-87756 Greg C. Tue, 29 May 2007 22:06:53 +0000 http://www.getrichslowly.org/blog/2007/05/29/links-for-2007-05-29/#comment-87756 My Prosper average was around 25% at one point, though across only a handful of loans. I have decided to only reinvest in lower risk loans. I got 17% from AA credit on my last one. I only invested a small amount of money, most of it was with someone I know. Then whenever my balance totals $50 I reinvest in a new loan. I pretty much consider my Propser mmoney gambling. My Prosper average was around 25% at one point, though across only a handful of loans. I have decided to only reinvest in lower risk loans. I got 17% from AA credit on my last one.

I only invested a small amount of money, most of it was with someone I know. Then whenever my balance totals $50 I reinvest in a new loan. I pretty much consider my Propser mmoney gambling.

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]]> By: cmarie14 http://www.getrichslowly.org/blog/2007/05/29/links-for-2007-05-29/comment-page-1/#comment-87725 cmarie14 Tue, 29 May 2007 15:20:43 +0000 http://www.getrichslowly.org/blog/2007/05/29/links-for-2007-05-29/#comment-87725 I thought the 17.6% was a little high, as well. I've read other articles where the mean percentage hovered around 11% or 12% and the authors had returns of around the same amount. I think perhaps it takes some instinct or savvy to do it right. It almost seems like the author of the above blog set out to fail, although he did still have a 4.4% return... I haven't tried Prosper yet, but I intend to. Only I don't plan getting greedy with the high interest rates... I thought the 17.6% was a little high, as well. I’ve read other articles where the mean percentage hovered around 11% or 12% and the authors had returns of around the same amount. I think perhaps it takes some instinct or savvy to do it right. It almost seems like the author of the above blog set out to fail, although he did still have a 4.4% return…

I haven’t tried Prosper yet, but I intend to. Only I don’t plan getting greedy with the high interest rates…

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