[thechat] Credit Card Mortgage

Fred Jones fredthejonester at gmail.com
Tue Feb 27 12:34:10 CST 2007


I am a long-term reader of thelist and short-term of thechat.

Anyhow, the banks won't give me a mortgage on a foreign property that I
want, so I am actually financing it on credit cards. The truth is that I got
a better deal altogether--I am getting fixed APRs as low as 2 and even 0%.
Discover has a 0% lifetime APR on balance transfers if you make 2 purchases
a month. We got two of these cards.

The last one I just figured out a new trick. I did a 'balance transfer' onto
my Visa Check Card which should (in theory) go straight into my checking
account. We will see if it works, I guess.

The payments are more like 2% (as opposed to 1% for a bank mortgage) but the
APR is much better.

Crazy country, eh?

Fred.



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