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Sep 28, 2017 - 34 minute read

Paying mortgage with a personal loan

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Paying mortgage with a personal loan

What should you do. Nothing. Forget about it. If they should sue you for that debt, you have a perfect defense.

I am laid off, will be going back to work soon I hope. In order to get by, I have been taking unsecured installment loans with very high interest rates. I have come to the conclusion that even when I do get back to work, there is no way I can afford this new debt.

Paying mortgage with a personal loan

See a Representative Example. Borrow 200 for 14 days with a 30 to 60 lender fee. Your estimated APR is 391 to 782 Calculation: (lender fee loan amount) x (amount of days in a year duration of the loan) x 100 Low End of Range: (30 200) (365 days 14 days) x 100 391. 07 High End of Range: (60 200) (365 days 14 days) x 100 782. 14 Payday loans are relatively expensive when compared with other loan products. Payday loans are not recommended as a long term financial solution and they should only be taken for emergency financial needs.

Paying mortgage with a personal loan
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