harper
Apprentice
Joined: 25 Dec 2004
Posts: 14
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 Posted: 09/19/07 - 06:11 Post subject: |
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| I have recently got a mortgage and I am now looking for the most efficient ways to start paying it off. It seems to me that it would be great if I could pay it with my credit card, especially as I am getting some offers for cards with 0 of interest for first several months. However, I am not sure about that, so if anyone could help, it would be great. |
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waldon
Apprentice
Joined: 07 Feb 2005
Posts: 18
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| Posted: 10/22/07 - 01:55 Post subject: |
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Paying off a mortgage is really a complex thing if you are looking for some alternative ways, not in the cash or check every month. The answer to your question really depends on whether your mortgage is fixed or adjusted, and how good deal for the credit card is. If you have a deal for, say 5000 dollars for 5 months, and a fixed rate of mortgage, you will probably need to pay off that spent 5000$ at the end of the no-interest period, which is not too good of a deal if you do not have that kind of money elsewhere. However, as I have said, there are several possibilities, and that depends on both deals. I suggest you go to http://www.delphifaq.com/faq/personal_finances/
f1093.shtml for more suggestions and examples of options. Best of luck. |
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