Peer-to-peer lending

[J.Apple902]

just found out about this. quite interesting. i have a buddy who bought a $120k condo from family money, on a 2% loan or something very low.

Thoughts about this sort of thing in general? I wonder how many can find someone to pay off their SL or mortgage debt while entering a contract for a better rate?

[cooliemae]

If I could find a P2P loan that low, I'd probably do it, but I don't think you will unless you have a rich family member that wants to make better than their savings rate...

[amarowsky]

I looked at it a while back and it did seem interesting. But 2% on that big of a loan does sound somewhat unrealistic. I remember seeing like smaller loans well under $10,000 going for on average like 5-9% and that seemed fair and interesting.

If I'm not mistaken that site gets a skim off the top (like <1% ish?). What a killing that must be considering all the people taking chances on there since the idea of p2p lending started to blow up.