Comments on: Peer Lending http://www.topfinanceblog.com/peer-lending/ Financial News, Information, and Commentary Wed, 08 Feb 2012 02:42:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Justin http://www.topfinanceblog.com/peer-lending/comment-page-1/#comment-81 Justin Mon, 05 Jan 2009 23:39:53 +0000 http://www.topfinanceblog.com/?p=43#comment-81 I agree with Rick that these can be great investments for lenders. I'm more familiar with Prosper which, like Rick mentioned, isn't allowing new loans right now while their SEC application is pending, but the returns can be very good. I generally focus on loans that have smaller monthly payments because these are much more likely to be maintained if the borrower loses his/her income. I have gotten my best returns from finding high interest rates on smaller (ie less than $5K-$7K) loans where the rate seems high for the risk level. The only loan I've had default so far was the one loan I joined in on that was $20K to finsih off a basement...oops! I agree with Rick that these can be great investments for lenders. I’m more familiar with Prosper which, like Rick mentioned, isn’t allowing new loans right now while their SEC application is pending, but the returns can be very good. I generally focus on loans that have smaller monthly payments because these are much more likely to be maintained if the borrower loses his/her income. I have gotten my best returns from finding high interest rates on smaller (ie less than $5K-$7K) loans where the rate seems high for the risk level. The only loan I’ve had default so far was the one loan I joined in on that was $20K to finsih off a basement…oops!

]]> By: Mitch http://www.topfinanceblog.com/peer-lending/comment-page-1/#comment-72 Mitch Fri, 02 Jan 2009 05:24:46 +0000 http://www.topfinanceblog.com/?p=43#comment-72 I should have dated this one, as it was a Justin post before I purchased the blog from him, back in mid-November. I would imagine many lenders are hesitant at this point in time. I should have dated this one, as it was a Justin post before I purchased the blog from him, back in mid-November. I would imagine many lenders are hesitant at this point in time.

]]> By: Rick http://www.topfinanceblog.com/peer-lending/comment-page-1/#comment-68 Rick Fri, 02 Jan 2009 04:39:28 +0000 http://www.topfinanceblog.com/?p=43#comment-68 Prosper is not lending for awhile and Zopa has closed for good. As a lender I've used both Prosper and Lending Club with returns of 17% and 12% respectively. No defaults yet though three of my Prosper borrowers are late. These are great sites to get better returns than the bank and more stable and predictable than the stock market. <abbr><em>Ricks last blog post..<a href="http://www.rickety.us/2009/01/missionary-dan-email-from-the-mtc-8/">Missionary Dan Email from the MTC #8</a></abbr></em> Prosper is not lending for awhile and Zopa has closed for good. As a lender I’ve used both Prosper and Lending Club with returns of 17% and 12% respectively. No defaults yet though three of my Prosper borrowers are late. These are great sites to get better returns than the bank and more stable and predictable than the stock market.

Ricks last blog post..Missionary Dan Email from the MTC #8

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