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Charge Your Mortgage Payment!

TJ_98370TJ_98370
edited May 2007 in The Economy
American Express to let cardholders charge mortgage payments;

I'm thinking that this is going to result in a whole lot of trouble for the financially challenged

American Express to let cardholders charge mortgage payments
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Comments

  • mike2mike2
    Rather I think this is no different than what people are already doing. Some of the new HELOCS available are quite obviously geared towards letting people roll their entire mortgage payment back into the loan.

    Specifically, check out WaMu's Equity Plus line of credit. One of the recent home sales in Meshugy's neighborhood the buyer put the entire house on his HELOC.

    washington mutual home equity loans
  • TJ_98370TJ_98370
    Correct me if I am wrong, but I'm thinking that if you don't make a full payment for the month, you will in effect be charged mortgage interest plus credit card interest on the shortfall for subsequent months?
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