The Franchise
06-03-2011, 10:13 AM
Saw this post in the mortgage thread.
http://www.prosper.com/
I had a professor that talked about the peer to peer loaning sites that are out there and he recommended prosper, but said that it is very risky because if the person you are lending to defaults you have no guarantee to get your money back. Prosper tries to take legal action on your (and the other lenders) behalf but you would most likely be screwed.
http://www.kiva.org/
Similar to what you said, but they don't pay interest. It's just basically to help someone in a 3rd world country out.
I was wondering if anyone has used it or knows of anyone that has used it. It seems like an interesting idea from the loaning side.....depending on the interest rate.
http://www.prosper.com/
I had a professor that talked about the peer to peer loaning sites that are out there and he recommended prosper, but said that it is very risky because if the person you are lending to defaults you have no guarantee to get your money back. Prosper tries to take legal action on your (and the other lenders) behalf but you would most likely be screwed.
http://www.kiva.org/
Similar to what you said, but they don't pay interest. It's just basically to help someone in a 3rd world country out.
I was wondering if anyone has used it or knows of anyone that has used it. It seems like an interesting idea from the loaning side.....depending on the interest rate.