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An estimated 2.2 million families have faced foreclosure and there are plenty more to follow. The sub prime loan bust, which is the result of lenient lending to those with less than perfect credit and little to no money down, has caused uproar in the financial industry. In fact, Experian, an Ireland based credit reporting bureau, has recently reported that because many people are facing foreclosure, instead of keeping up with their mortgage payments to hold on to their homes, they are instead paying on their credit cards.

Sub prime loan borrowers who have not yet felt the wrath of foreclosure are making moves to ensure that they have adequate space on their credit card because in some cases the money that they owe on their home loan is a lot more than what the actual home is worth. Homes are currently available at a very low rate, but the cost of renting is rising, and people in a sub prime loan want to make sure they are financially capable to make the move should they need to.

The results of the study by Experian clearly indicate that borrowers of sub prime loans are accepting the fact that they are going to lose their home by protecting themselves financially for the fall. These borrowers are taking advantage of every opportunity available to them by paying off their credit cards instead of their mortgage and using cash advance loans online to get the money they need to move into a rental property. Since cash advance loans are available with no credit checks and low interest rates, sub prime borrowers are using these loans for help in the whole moving process. Many rental properties do not allow credit cards to be used for move in costs, and because of this, online cash advance loans have become popular for getting the cash needed.