CC Blog has a brief rundown on credit card companies’ recent targeting of struggling homeowners as new customers. With the real estate market being what it is, credit card companies are pitching their products as a viable cash alternative.
DON’T DO IT.
UPDATE: Perhaps further clarification is in order. So…
DON’T DO IT.
…seriously, paying your mortgage with a credit card is a bad idea. The interest rate on the card will far exceed that of your home and if you are having trouble making your house payment, using this form of payment is likely only to worsen your situation.
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