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So.... anyone who can help explain what's happening to a complete idiot (me)? About a month ago I threw some money in Prosper just as an experiment. I have 10 notes at $25 each. Well sometime in the past few days I got my first payment back into my account. The note was for 20k at 10.3% for 3 years. Except instead of the $0.80 I was expecting as my first payment I got $20 back - $19.91 principal and $0.08 interest. My principal balance is listed as $5.09 now. I'm assuming the borrower made some sort of huge payment early instead of the slow trickle I was expecting? Following that - assuming the borrowers next payment is as big as the previous one am I looking at only getting $0.16 in interest instead of ~$2 or whatever due to early repayment? And for anyone familiar with Prosper - is there any sort of way to see what sort of payments the borrower is making against the total balance of the loan? The note listing just has the basic info as always. If I'm completely confused about what's happening here or there's some better way to get info, I'd love it if someone could enlighten me.
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Jun 30, 2013 23:35
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| # ¿ May 6, 2024 18:09 |
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