Dec 02 2008
Buy a Foreclosure With Your Credit Card
Ever see a foreclosure and think, “Wow! I could buy that with my credit card!” Well, in some cases, you actually can. American Tax Funding Service allows people to pay their down payments or even put an entire home on their credit cards. Some auctions on eBay accept Paypal payments for all or part of the purchase price, which means you can also use your credit card to finance these purchases.
Why would you want to use a credit card to buy a foreclosure? Maybe you have a great rate, like a 3 percent interest offer until a new charge is payed off. Maybe you get cash back on purchases and plan to charge the foreclosure and then pay the bill in full the day it arrives.
However, if you have a 12% interest rate or a 6 month special lower rate, please don’t take advantage of the ability to charge a foreclosure without a lot of forethought. A 12% mortgage rate is just insane!
