Comments on: Lending Club Portfolio Fully Funded

By: Nickel

Nickel — Thu, 04 Jun 2009 17:07:43 +0000

T.O.D. — The rate doesn’t change over the life of the loan, and your entire amount doesn’t remain “tied up.” You get it back a bit at a time as the borrowers make payments. You can then withdraw it, or invest in new notes.

By: T.O.D.

T.O.D. — Thu, 04 Jun 2009 16:55:39 +0000

Thanks Tale for the info. [though you're probably poking fun at my name and what I typed]. You struck a nerve and put me in my place. Just wondering now; is it really worth tying your money up for 3 years esp. when the acrrued interest decreases at the loan matures like he said? Maybe I’ll just find another job. Good luck Nickel! According to LC’s stats most people pay on time.
Good one Tale… Like the fighting mouse… I got it.

By: Nickel

Nickel — Thu, 04 Jun 2009 12:47:08 +0000

DDFD: You and me both.

By: DDFD at DivorcedDadFrugalDad

DDFD at DivorcedDadFrugalDad — Thu, 04 Jun 2009 12:46:31 +0000

Nickel–

Thanks for sharing you personal experience with this– I am very interested in hearing the results. I have to admit I am very skeptical and on this I want to be surprised.

By: Tale

Tale — Thu, 04 Jun 2009 07:35:31 +0000

Accrued interest is unrealized until borrower pays. Accrued interest will also decrease as the loan keeps maturing. Amounts invested to make a dollar a day depends on the interest rates of the loans you invest in.

By: Dale

Dale — Thu, 04 Jun 2009 06:04:00 +0000

I like that even before you get your first payment; you accrue interest almost daily. I put in $325 and get interest almost daily about $0.12. My first payment is 6/26. So far so good. So i need about $3,250 to make about a dollar a day?!

By: LOL

LOL — Wed, 03 Jun 2009 20:50:48 +0000

I read about the LendingClub a few months ago — too bad my state regulatory agency will not allow me to participate (TX). Hope all goes well.