There are many financial institutions promoting aggressive short term loans known as payday loans or cash advance loans. These can be helpful at times but many consumers abuse this financial solution and take out these sort of loans precariously which can lead to financial hardship. The most common mistake people make is to take out a payday loan simply in order to make their monthly payment for their mortgage loan. But this only substitutes a current loan which you have difficulty paying off with a more expensive one which can easily get carried away. But there are proper financial solutions for such situations. Try to refinance your mortgage rather than get in to the dangerous cycle of new loans and further debt.