For my 50th post I've come here to say 'Hi' before I say goodbye. I thought I did an intro back in '09 when I first discovered .org, but can't find that I actually did it. It was great to read through all the original intro's of the .org mainstays. My .com account id is Mrbalingwire. I'm a late 1.0 blender, starting back in Dec. 07. I became interested in P2P, because I'm a very experienced consumer of credit. I've basically funded my wife being a stay-at-home mom for 30 years by carrying a pretty high balance that is the equivalent of what she could earn in a year. That balance is on a perpetual 7-year plan to be paid off.
I first tried Zopa just to see how it worked from the borrowers perspective, but got disillusioned when I discovered the way to a low rate was actually to nag your friends and family to help you out with boring CDs. So I paid off the ZOPA loan. Prosper seemed more happening to me as P2P. Since I continually walk in their shoes I thought I'd have some discernment regarding borrower's listings. I also do Plain Language editing/instruction in my government job, so I know my way around a poorly written document and its meaning.
As I've said elsewhere on the boards here my plan didn't work out too good with a -12% ROI, not counting the interest on my Prosper loan (which is paid off, by the way). I've learned A LOT here at .org thanks to all the posts and banters. I usually stick to the financial stuff, not much time for the Off-Topic area. Just want to say thanks to everyone.
My notes should be finished in March or April. I've got 5 active with only 2 current. At this point, I'm almost hoping for the portfolio to top 50% default, being kind of jaded. I'd like to think it was just timing of the economy, but Fred proves it different. Being in Texas I can't, but probably wouldn't lend again anytime soon. The most basic financial advise is to pay off unsecured debt before investing. But, another sage piece is to invest in what you consume and credit I do consume.
Talk to you elsewheres on the board. Hopefully, now as a Junior Member
Roger
