Comments on: Disappointment with Prosper.com http://www.biggerpockets.com/renewsblog/2006/08/25/disappointment-with-prospercom/ Learn, Network, Invest Sat, 11 Feb 2012 20:37:50 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Prosper Lendinghttp://www.biggerpockets.com/renewsblog/2006/08/25/disappointment-with-prospercom/#comment-56067 Prosper Lending Tue, 15 Apr 2008 23:12:07 +0000 http://www.biggerpockets.com/renewsblog/2006/08/25/disappointment-with-prospercom/#comment-56067 Maybe Prosper should be given a second chance. They have improved their loan balance system a lot over the last couple of years. Maybe Prosper should be given a second chance. They have improved their loan balance system a lot over the last couple of years.

]]> By: Granthttp://www.biggerpockets.com/renewsblog/2006/08/25/disappointment-with-prospercom/#comment-4972 Grant Sun, 27 Aug 2006 21:15:08 +0000 http://www.biggerpockets.com/renewsblog/2006/08/25/disappointment-with-prospercom/#comment-4972 I see your point, PF.Maybe they could use it more like a co-signer on a loan. If John Doe borrows $500 from you, and he has Jane Doe cosign the loan, if John can't pay and Jane Does, it doesn't affect John's borrowing capability as both John and Jane are on the hook for the $.I just think it should affect someone's borrowing power if they have a history of being bailed out by someone.-Grant TheCornerOfficeBlog.com I see your point, PF.

Maybe they could use it more like a co-signer on a loan. If John Doe borrows $500 from you, and he has Jane Doe cosign the loan, if John can’t pay and Jane Does, it doesn’t affect John’s borrowing capability as both John and Jane are on the hook for the $.

I just think it should affect someone’s borrowing power if they have a history of being bailed out by someone.

-Grant
TheCornerOfficeBlog.com

]]> By: Joshua Dorkinhttp://www.biggerpockets.com/renewsblog/2006/08/25/disappointment-with-prospercom/#comment-4968 Joshua Dorkin Sun, 27 Aug 2006 17:47:18 +0000 http://www.biggerpockets.com/renewsblog/2006/08/25/disappointment-with-prospercom/#comment-4968 It certainly will reduce risk. I think the problem is that people can keep defaulting on loans and get bailed out each time. It does seem to decrease the risk to lenders, though. It certainly will reduce risk. I think the problem is that people can keep defaulting on loans and get bailed out each time. It does seem to decrease the risk to lenders, though.

]]> By: PFhttp://www.biggerpockets.com/renewsblog/2006/08/25/disappointment-with-prospercom/#comment-4960 PF Sun, 27 Aug 2006 05:42:41 +0000 http://www.biggerpockets.com/renewsblog/2006/08/25/disappointment-with-prospercom/#comment-4960 I do not see why this new feature becomes a disappointment. If anything, this decrease lenders' risk and therefore is beneficial to the community building. I do not see why this new feature becomes a disappointment. If anything, this decrease lenders’ risk and therefore is beneficial to the community building.

]]> By: Joshua Dorkinhttp://www.biggerpockets.com/renewsblog/2006/08/25/disappointment-with-prospercom/#comment-4945 Joshua Dorkin Sat, 26 Aug 2006 18:39:50 +0000 http://www.biggerpockets.com/renewsblog/2006/08/25/disappointment-with-prospercom/#comment-4945 Great idea Grant. Keeping track of the bailouts would be a great feature that would minimize the risk to future lenders IMO. Great idea Grant. Keeping track of the bailouts would be a great feature that would minimize the risk to future lenders IMO.

]]> By: Granthttp://www.biggerpockets.com/renewsblog/2006/08/25/disappointment-with-prospercom/#comment-4928 Grant Sat, 26 Aug 2006 13:06:23 +0000 http://www.biggerpockets.com/renewsblog/2006/08/25/disappointment-with-prospercom/#comment-4928 I'm not sure I really like that idea either. Also I like your notion that it takes away the financial responsibility of the borrower.If they want to keep this feature, I suggest they make it public how many times a borrow has been bailed out by someone else. That way, if "billy" is looking to borrow $500, but he has a record of having his buddy make his payment, lenders may be able to calculate the risk accordingly.-Grant TheCornerOfficeBlog.com I’m not sure I really like that idea either. Also I like your notion that it takes away the financial responsibility of the borrower.

If they want to keep this feature, I suggest they make it public how many times a borrow has been bailed out by someone else. That way, if “billy” is looking to borrow $500, but he has a record of having his buddy make his payment, lenders may be able to calculate the risk accordingly.

-Grant
TheCornerOfficeBlog.com

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