Peer-to-peer lending?

Have you heard of new places online cropping up offering peer-to-peer lending? There are a couple I’ve looked into. One is called Prosper. The idea is that instead of going to a ban for financing you can have people finance you. Maybe Donna from Chicago puts $100.00 towards your loan and 35% interest rate. Yes, so the lenders also make money and help someone out. The borrowers can get a loan and then they pay it back the same they would with any other loan.

I think this is a very innovative idea. The banks better watch out!! As a real estate agent interested in homes and believeing that everyone deserves a home. I have checked out the home improvement requests and made a loan or two.
It’s disheartening to see so many homes with roof damage and the insurance companies not paying so people have to get loans to pay for something the insurance company should be paying for. Oh did I mention? There are categories where the person describes what they need the loan for and how much they need. Voyeuristic goodwill. hahaha




There’s also another one that is specifically for students who needs loans for school and it’s called Fynanz. Another brilliant idea! A a low-cost private student loan benefiting both borrowers and lenders. Students apply for loans in an auction marketplace and receive the most competitive rates. Lenders bid on student listings and can place bids in small amounts across many borrowers to diversify and lower risk while getting attractive returns.

http://www.fynanz.com/

What better way to give back to people and the planet. Helping people go through school or get their life on track and you can make money from it!?!! Sign me up!