Skip to content

Pay Day Loan Mortgages Revisited

Last summer I wrote about the idea of Pay Day Loan Mortgages and at the time I was quite critical of the idea, but after a while to reflect on this, it might end up being a sound financial concept for a specific group of consumers. I compared it to being a concept as ludicrous as a Sharknado, but after reflection maybe it serves as a needed service (and maybe we should watch out for Sharknados as well).

One of my Pay Day Loan Mortgage Service Agents (Courtesy DC Comics)

If you need a house for about a 2 week period, you don’t want to have to tie up your capital and all that, just get yourself a quick Pay Day Loan Mortgage and then after you are done with the house, you give it back, and pay off your two weeks “service fee” on the Pay Day Mortgage.

Remember if this is a $300,000 house we wish to own for only two weeks, our estimated “service fee” of between $30,000 and $60,000 is a drop in the bucket compared to the enjoyment of home ownership for two whole weeks! Does it matter that your fees cost more than a new car? Of course not, because you got to enjoy living in a beautiful home for those two weeks.

Another great idea is if you already owned your house, getting a Pay Day Loan mortgage would be useful as well, say if your Daughter Wanted a “Kardashian™-like” Wedding Ceremony, and you were planning on winning the lottery, you could borrow the $500,000 you might need and then pay back the small service fees 2 weeks after the ceremony ( what is $575,000 if it makes your daughter happy and she gets what she wants?).

I note that none of the “main stream” Pay Day Loan sites have not picked up on this new service, so I may have to start-up the Big Cajun Man “I am Ripping You Off” Pay Day Loan Mortgage service (maybe just on-line).

Please note the date of the publishing of this less than humorous lampooning article (April 1st, 2014)

(April Fools!)

Feel Free to Comment

  1. I knew something was tetchy, as I remember how you ripped the industry a new one last time, just like I have!

    Here I am reading this on the 3rd not the first, so the April fool’s thing was off for me.

    Good reading nevertheless!

    1. bigcajunman – Ottawa, Ontario – A simple blogger writing about his financial experiences as the Father of a wonderful son who is on the Autism Spectrum. Also writes about security and WordPress technology.

      Yeh, sometimes April Fool’s jokes aren’t as funny in May or June…

    1. bigcajunman – Ottawa, Ontario – A simple blogger writing about his financial experiences as the Father of a wonderful son who is on the Autism Spectrum. Also writes about security and WordPress technology.

      Hey, I am sure someone has, and more is the pity….

  2. I saw a payday loan add which seemed like an April Fools joke, but it wasn’t. Something like “Normally you get $200 for $20 but now only we’ll give you $300 for $20, that’s half off!”. Whaaaat????

  3. debt debs – I am a fifty-something wife, mother and new grandmother, who admits to having their “head in the sand” about their financial situation until amassing $247,500 worth of consumer debt for a total debt of $393,500. We've paid $121K in 2 years with four more years to go. Join my journey at debtdebs.com sharing ideas and motivation to all those coping with poor money management and bad debt decisions.

    Ha! You got me! I was scratching my head but then the coffee hit me. Happy April Fools!

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Tags:
Exit mobile version