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Originally Posted by TwitchKitty
Buy it with cash advances on credit cards or with a loan from your family. Refinance immediately with an HEL - fixed interest, no fees. Use the HEL (not HELOC) to pay off your bridge financing. Skip the real estate agent and go straight to title agency. Do your homework first. This is the broad idea, the devil is in the details. Do your homework.
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and what happens when somehting goes wrong and you make late/no payments to your credit card? They can call in the whole amount. A loan shark might give you better terms than credit card companies.
The devil is in paying very high interest rates from the minute you get a cash advance on a credit card. There is no grace period. A hel usually has closing costs and fees like a regular mortgage and higher interest rates.