Can’t afford your home or your loan? Heck, just put in on your charge card and forget about it.
Well, at least until your credit card bill comes due next month and now Guido wants his money. One more month with your head above the toxic water and a temporary plug in your foreclosure boat for a few more weeks.
Is this a great great idea or just another debt trap for Americans?
I say it’s a terrible idea and it’s only going to place American deeper in debt and drive them deeper into financial oblivion, All this does is make the owners of this company rich and your poor.
Just so you all know, that is the whole idea with these types of loans and capitalistic pig corporations.
Not to help you, but to profit from you. The old wolf in sheep’s clothing is exactly what is happening here. Don’t be Dorothy and don’t buy into the sheep’s, I mean the wolve’s lies and false promises.
THEY WILL EAT YOU ALIVE!
From MSNBC:
ChargeSmart charges $4.95 per transaction, plus 2.29 percent of the amount paid. On a $2,000 mortgage payment, the fee is $50.75.
“We set the fees as low as possible to allow more people to use the service,” said Mitch Friedman, a ChargeSmart co-founder. The company, which employs six people, anticipates mortgage payments will be the most popular use for the service.
Another San Francisco startup, CardIt, debuted last year to offer the ability to pay mortgage payments with credit cards but is no longer in business.
ChargeSmart said it has signed up 4,000 billers, who receive payment within five days from ChargeSmart. Some lenders, such as Wells Fargo, can be paid through the service because ChargeSmart uses a third-party service to make it happen.
Read more form MSNBC
