Can you make your mortgage payments with a credit card

2 Replies

( this is not a real situation, its just a question)

If you cant afford your mortgage payments, Can you use a credit card to pay them? Then, you get a job and you pay off your credit card and continue to pay your mortgage payments?

depends on the lender but these days there are fewer and fewer who will let you do it.

it causes too many problems: from creating a "rob peter to pay paul" situation, to the opposite of the spectrum people using CC to pay their mortgage and earn points. LOL 

@Fili Aguirre

Of the options I have seen that might be related to paying rent with CC, you get charged an additional 3% (may have additional fees involved) of the total amount as a "convenience fee". You end up paying more than what you would have if you just payed via ACH or check, in addition, points earned will not make up the deficit. 

You can take a cash advance (highly discourage) at the going advance rate on your CC, typically 19-29% upfront, which makes absolutely no sense to do.

If you are in a dire situation, I would attempt any other solution if you are well inclined to pay back the amount such as HELOC (if you have enough equity to access this with your lending institution), a personal loan (5.99-14.99% APR), or borrowing from family or friends for the short term.

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