Invest in my mortgage debt
If you have enough to where it doesn't faze you, why are you even asking for a loan?Quote: MichaelBluejayOne I'm holding because it might become my personal residence again someday, and another I hold because if I sold it, a developer would knock it down and build something big and expensive that only rich people could afford to live in. There's a shortage of affordable housing in Austin and since I wasn't born into wealth, I don't forget where I came from. Yes, there's lost opportunity cost, but I've got enough that that doesn't faze me now.
Quote: AxelWolfIf you have enough to where it doesn't faze you, why are you even asking for a loan?
Everyone has a desire for same day bagels.
#GETTING_OUT_OF_THE_DUMPSTER
Quote: BozIsn’t capitalism great?
Capitalism is great. Even communists like it.
Quote: MaxPenEveryone has a desire for same day bagels.
#GETTING_OUT_OF_THE_DUMPSTER
After three days this thread is still running hot.-almost 3,000 views as of this posting. I have to admit that I'm surprised.
There hasn't been 3k views. There's been 3k actions made.Quote: LovecompsAfter three days this thread is still running hot.-almost 3,000 views as of this posting. I have to admit that I'm surprised.
Quote: LovecompsAfter three days this thread is still running hot.-almost 3,000 views as of this posting. I have to admit that I'm surprised.
Everyone loves a good train wreck. 😀
Quote: MaxPenEveryone loves a good train wreck. 😀
That, and a sure thing.
Quote: LovecompsAfter three days this thread is still running hot.-almost 3,000 views as of this posting. I have to admit that I'm surprised.
I’m not surprised at all.
This post had ratings bonanza written all over it right from the start.
My original over/unders for this thread were as follows:
Pages 46.5
Member Suspensions 3.5
Members Nuked .5
Will a loan be given ? No -900000
Quote: michael99000I’m not surprised at all.
This post had ratings bonanza written all over it right from the start.
My original over/unders for this thread were as follows:
Pages 46.5
Member Suspensions 3.5
Members Nuked .5
Will a loan be given ? No -900000
Funny post. Who's the half member who gets nuked?
Quote: bobbartopFunny post. Who's the half member who gets nuked?
That’s the over/under. If 1 member is nuked, over cashes
So far just 2 suspensions
I did 3 suspensions, but they were very short.Quote: michael99000That’s the over/under. If 1 member is nuked, over cashes
So far just 2 suspensions
Quote: OnceDearI did 3 suspensions, but they were very short.
Ok. 12 pages , 3 suspensions.
Progressing just as you’d think a loan seeking thread on a gambling web site would.
Quote: MichaelBluejayI was a fan of LC early on, since 2011, and I got the Wizard and others into it. But interest rates have plummeted there in the last year and now it's no longer attractive to me. I was able to manage 9%, while the 90th percentile is 5.25%, so I think I did pretty good. :) On the borrowing side, they don't do mortgages, so that won't work for me.
I was also an early fan LC, but the bottom really fell out of it in terms of defaults. I made money on my account, but opened a 2nd account as a Roth IRA for my wife, and ended up losing money on that one before I liquidated it.
Quote: AcesAndEightsI was also an early fan LC, but the bottom really fell out of it in terms of defaults. I made money on my account, but opened a 2nd account as a Roth IRA for my wife, and ended up losing money on that one before I liquidated it.
How did you lose money on it? I'm phasing out of it, no longer funding new loans, but can't see how one could lose money.
Quote: billryanHow did you lose money on it? I'm phasing out of it, no longer funding new loans, but can't see how one could lose money.
What vintage are your notes, and what grade? My specialty was high-risk/high-reward notes. Right around 2014 something huge changed, I never really got to the bottom of it, but either they drastically changed their vetting policy, or big institutional investors started to gobble up the "good" high-interest notes. Notes that I acquired after that date had a much, MUCH higher default rate that turned my return basically breakeven. At that point, I didn't want to invest the meager stream of income back into crappy notes, so I started liquidating everything on the Folio market and once I got everything into cash, rolled it over into a brokerage account (this was an IRA which made the whole process more painful).
In the liquidation process I took a haircut as well, just getting out.
What I found strange was how many people paid off the loans almost immediately. I could understand people with D and E scores paying their loans off to improve their scores but never understood jumping thru hoops for a decent rate and paying it off right away.
People who worship Fair Isaac are weird.
