While it'd look like a quick fix, a payday mortgage has lots of charges. Your lender might name-in” your mortgage, meaning send you a notice stating you could have 30 days to repay the mortgage. And you will pay a one-time price for the money advance, normally 2% to 5% of the amount borrowed. Each time you lengthen (rollover) a mortgage, a payday lender expenses extra fees, increasing your out-of-pocket prices for borrowing the cash.