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There's no reason you couldn't except the difference in interest rates would be substantial. More than likely a much larger amount would be owed/repaid then if the mortgage was paid by conventional means. Also, interest charged on a mortgage is tax deductible, CC's aren't.
No mortgage company directly accepts credit card payment, only debit cards. Historically, you could only use your cash advance checks to pay your monthly mortgage bill with a credit card. However, just launched this year, two companies are allowing direct payment.
The first is an American Express program for IndyMac and American Home Mortgage loans. There is a $400 enrollement fee for this program and you can only sign up on closing of a new loan.
The other service that let's you pay your mortgage with a credit card is CardIt. They support 115 lenders and charge a per-payment fee of %2.49 + $19.99. You can use a Visa, MasterCard, or Discover, but not Amex.
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Can a high credit card balance prevent you from getting a mortgage?
Your debt is always taken into account. If your income can handle the credit debt and the mortgage there should be no problem. High credit card balances do not mean bad credit. Late or no payments make bad credit. Your better off with a high balance on a credit card that you pay regularly than no credit at all.
How much will your credit scores increase after paying off a mortgage?
Your credit score will decrease after paying off your mortgage if everything else remains the same. Our credit score has been decreasing since paying off our mortgage 5 years ago. The suggestions for increasing our credit score were to take out a mortgage or take out a car loan.
If I file for bankruptcy can I still refinance my mortgage?
You would probably be better off refinancing your mortgage first and then applying for bankruptcy later on. My mom had to file for bankruptcy due to credit card debt she could not pay.
What types of rewards can one get with no annual fee credit cards?
No annual fee credit cards can come with quite a range of rewards and reward programs. You can get anything from a check to pay off some of your mortgage to a gift card.
Does paying off your mortgage early affect your credit score?
Yes, it would help your credit score.
Can a high credit card balance prevent you from getting a mortgage?
Your debt is always taken into account. If your income can handle the credit debt and the mortgage there should be no problem. High credit card balances do not mean bad credit. Late or no payments make bad credit. Your better off with a high balance on a credit card that you pay regularly than no credit at all.
How much will your credit scores increase after paying off a mortgage?
Your credit score will decrease after paying off your mortgage if everything else remains the same. Our credit score has been decreasing since paying off our mortgage 5 years ago. The suggestions for increasing our credit score were to take out a mortgage or take out a car loan.
Can you write off credit card interest on your taxes?
Is there a way to write off credit card interest on corparation credit card?
Will you be forced to sell deceased mother's house in Maryland left to and where family members are living to cover mothers credit card debt?
Yes, the house will probably have to be sold to pay off the credit card debt if there are no other assets. The alternative might be for those that live there and are to inherit to take out a mortgage and buy the house from the estate for the amount of the credit card debt and pay off the credit card bills. This would eliminate the credit card companies placing a lien on the house and allow them to get clear title.
If I file for bankruptcy can I still refinance my mortgage?
You would probably be better off refinancing your mortgage first and then applying for bankruptcy later on. My mom had to file for bankruptcy due to credit card debt she could not pay.
If a home equity can't be paid off at the time of selling a house can you put it on a credit card or roll in to the next mortgage?
You will not be able to include it in your new home purchase. You can pay it off with a credit card or any other means of credit available to you. Be careful though. If you add too much "other" debt, you may not qualify for your new home.
Is it dumb to pay high interest rates?
The interest rate you will pay will be a function of the following:The type of debt (mortgage, credit card)Your credit ratingThe term of the debtIn this regard, credit card interest is usually one of the worst. If you are going to have an unpaid balamnce, you are probably better off with a personal loan.
How do you get a pending transaction taken off a credit card?
ermiyas in the building
can u get a grant to pay off credit card dept?
can u get a grant to pay off credit card dept
What types of rewards can one get with no annual fee credit cards?
No annual fee credit cards can come with quite a range of rewards and reward programs. You can get anything from a check to pay off some of your mortgage to a gift card.
How do you establish credit?
By being responsible. Get one credit card and spend on one thing that you can pay off immediately. Keep the account open and always pay off the balance of the card to avoid debt. Gradually you will establish credit as you apply for loans and pay them off, finance a car and pay it off, etc. Eventually you will be able to get a mortgage on a home. Being a home owner is the best investment you can make and it is a reward to consumers who are responsible.
Does paying off your mortgage early affect your credit score?
Yes, it would help your credit score.
