Putting your mortgage payment on plastic
Why does this seem like a far-from-ideal solution to the foreclosure crunch?
A new company, CardIt LLC is making a splash by setting up an online system to make mortgage payments with credit cards.
"Until now, consumers have had no easy way to directly pay mortgages using credit cards," CEO Philip Mikal said.
Let's get this straight: You're behind on your 7 percent mortgage, the bank's clamoring for payment, so you lard up your 20 percent credit card with thousands of dollars in house payments.
CardIt LLC is based in California, one of the nation's foreclosure leaders and the birthing ground of many a funky innovation. It accepts Visa, MasterCard and Discover. Why, of course!
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Housing market news is the focus of the (Un)Real Estate blog. It offers an inside look at the Florida housing market and real estate news, with a focus on Tampa Bay. Its goal? Simple: To help you keep a roof over your head without losing your shirt.
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