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Whats your loan selection criteria?
It is always good to read the blog here as I always learn a thing or two. People have been saying if you pick your loans right you can do alright on Harmoney, I have been trying to pick loans with an aim that the borrower doesn't default. What are your criteria to pick a loan? I myself look at these points:
- House owner or renting ( I give preference to homeowners)
- Time at the employer (the longer the better)
- Compare the monthly loan payment to their monthly income to judge if they can afford it.
Here are some of the loans which are in arrears, would you have picked these loans or not? As they looked very good to me however they are in arrears
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