Use ChargeSmart to pay mortgage through 0% APR credit card

[Michael B.]

Any thoughts?  

Step 1: Get credit card with 0% apr for 18+months.  I have seen 3 years on one (if it is real)

Step 2: Pay mortgage for 18 months to 3 years (depending on card) up front, in one shot, using ChargeSmart.  There will be roughly a 3% fee to do so.

Step 3: Make sure mortgage is set up not to keep taking out payments that you made in advance, so as not to have a double payment. 

Step 4: When CC money is due (18 months to 3 years), take mortgage payments you would have made and pay off CC.  Avg mortgage is 4%.  Over any 0% apr longer than 9 months, you have made some money.  Even better, apply it to a student loan or something with higher interest.  Plus add mortgage you would have paid to savings account and earn a little extra.

Both my wife and I have excellent credit. We probably could each apply for 100k worth of credit and apply it to mortgages (multiple investment homes) or other things. 200k worth of money if we could get 3 years 0% APR paying only the one time 3% fee to ChargeSmart might be worth (12% savings over 3 years - 3% up front fee = 9% * 200,000 = 18k over 3 years). Worth even more for student loans or other higher interest loans.

Can this be done or is there a flaw in my proposal?