Enginero Questions Prosper
If you enjoyed this post,
A personal finance blogger who happens to be an engineer is posing a good question about Prosper and whether it is worth trying out. I encourage you to visit his article,
Is Prosper for me? Intrigue can be costly
It will be good for him to get your feedback based on your experience with Prosper. I commented on his article that Prosper loans are unsecured loans so there is an inherent risk involved. As with anything that has risk, the greater the risk, the greater the reward.
Comment by Ralph on 9 May 2008:
Thanks for mention Mark. It would be great to have some people weigh in on this topic at either blog.
Ralph’s last blog post..Pentagon Federal (PenFed): Customer Review
Comment by SavingDiva on 15 May 2008:
I’m a big fan of Prosper. However, I’m a little worried now because of LC’s collapse. Luckily I only have about $175 invested in both LC & Prosper….enough to play, but not enough to cry about if I lose it.
SavingDiva’s last blog post..What I need…and want…
Comment by Mark from TheLocoMono on 20 May 2008:
Prosper is set up differently than Lending Club. From what I understand, LC is based on loans from you to the borrowers. Prosper is loans from the borrowers to Prosper, not you. Once the bid on the loan is completed, then Prosper spreads the risk among the lenders. It is confusing but this structure has gone through intensive scrunity with the Feds so I am more comfortable with Prosper.
Mark’s last blog post..Excerpts or Full Posts