Fed Raises Rates Again

Comment First

For those of you with credit card debt or home owner equity debt look for a bigger payment in the next month or two. I've never carried credit card debt, but I do have an Home Equity Line of Credit (HELOC). So while I'm sure this should encourage me to try to pay off the HELOC quicker than normal, it seems like I could Prosper more by taking a different path.

By my calculations, I'm paying about 5.25% on my HELOC when you count deducting the interest from taxes. The 11.5% that I get after fees from Prosper.com translates to about 8.25% after taxes. That gain of 3% isn't a lot, because I don't have a lot of money in there, but maybe I should step it up a bit.

Don't forget to read my Prosper Review

This post deals with:

Fed Rates, Heloc, Prosper

... and focuses on:

P2P Lending

Posted by Lazy Man on May 10, 2006

Related Posts
Sick and Spendy - and Personal Finance Links
Mailbag: Hacking your credit score, Too Much P2P, and Giving Away $150
Why I don’t have an Emergency Fund
Net Worth Update – May 2007
Prosper Update
Compound Interest Week: Real Interest Rates of the Stock Market
Stopping My Prosper Contributions
5 Ways Being Lazy With My Money Got Me Into Debt
Getting an itchy Prosper finger
Live Long and Prosper?
Related Websites
The Dangers of Long Term and Interest Only Loans
The State of the P2P Lending Industry

Previous: Baseball Mogul – what’s that have to do with money?
Next: Condotels part 2