Investing in Prosper

I put a tiny bit of money in to test the waters. Participated in 17 loans -- after about a year, 1 loan has defaulted and 2 loans are late. (One of those late loans has been late before twice but has caught up each time.) If this pattern continues, I'll end up with probably 6 defaults over 3 years putting my return at about 5%-7% annualized.

At that return, not worth the effort. It's quite the hassle to find/ research loans, dealing with snipers who push you off good loans at the last minute and having your money sitting around earning no interest during the bidding/funding/origination stage.