Have You Used Your Credit Card to Make a Mortgage Payment?
MoneySupermarket.com ran a survey and found that more than 4 million households had used a credit card (or a personal loan) to pay for their mortgage in the last year.
More than 4 million households have turned to a short term, higher interest product, like a credit card, in order to make a payment on a lower interest, long term mortgage!
If you were one of the 4 million who did this to keep your head above water, you should definitely take careful stock in how you are spending your money. You would probably be shocked at how much money you have available to you, if you cut back in certain, non-necessity areas. Go through your check register and credit card statements to see exactly where your money is going, and anything you’ve spent that wasn’t an absolute “MUST” should be considered carefully. You may be able to pay off credit cards and keep up with your mortgage if you make some slight changes in how you spend your money.
