Author Topic: Who are these borrowers?  (Read 7934 times)

neals384

  • Full Member
  • ***
  • Posts: 107
    • View Profile
Re: Who are these borrowers?
« Reply #15 on: August 15, 2013, 12:26:33 PM »
When your lifestyle exceeds your income, and the Cards are maxed out, what do you do?  Easy!  Go online to LC/Prosper, get a refi loan, pay down the credit cards so you can run them up again.

I don't think many people intend to run up the cards again after getting a P2P refi, but budgeting and living within your means are not easy if you've never learned how.

In the days before the housing bubble, I had a friend who would do a cash-out mortgage refi every 3-4 years in order to pay down the credit cards.  Long talks with him about the folly of this made no difference.  Today he has almost no equity instead of a paid-off mortgage.

gracie05

  • Newbie
  • *
  • Posts: 2
    • View Profile
Re: Who are these borrowers?
« Reply #16 on: September 07, 2013, 02:28:01 AM »
A person that has applied,met specific requirements and received Monitory loan from a lender.In other words we can say that To obtain or receive on loan with the promise.