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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.
What else can I help you with?
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.
How can I improve my credit score by paying off my credit card debt?
Paying off your credit card debt can improve your credit score by reducing your credit utilization ratio, which is the amount of credit you are using compared to the total amount available to you. Lowering this ratio shows lenders that you are managing your credit responsibly, which can positively impact your credit score.
Can you pay off someone else's credit card?
Yes, you can pay off someone else's credit card debt by making a payment directly to the credit card company on their behalf.
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.
How can I improve my credit score by paying off my credit card debt?
Paying off your credit card debt can improve your credit score by reducing your credit utilization ratio, which is the amount of credit you are using compared to the total amount available to you. Lowering this ratio shows lenders that you are managing your credit responsibly, which can positively impact your credit score.
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 A CREDIT CARD AN EXPENSE OR LIABILITY?
A credit card itself is considered a liability because it represents money that you owe to the credit card issuer. When you make purchases using a credit card, those purchases are recorded as expenses in your accounts. However, until you pay off the credit card balance, the total amount owed remains a liability on your financial statements.
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.
Can you pay off someone else's credit card?
Yes, you can pay off someone else's credit card debt by making a payment directly to the credit card company on their behalf.
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
