Financing in 60618>Question Details

John Bella, Home Owner in Chicago, IL

How do I buy a foreclosed home with a couple credit cards?

Asked by John Bella, Chicago, IL Sat Jan 19, 2013

Will the title company charge them? Don't really want to do cash-advances. They are all business credit cards and offer 0% interested from 6 -12 months.? Are there companies that will give you loans against your credit cards? I have over $100k..

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12
The best part about using your credit card will be the free plane tickets you get at closing. Just beware of the automatic gratuity the closing department adds to your tab, regardless of the quality of their service.
1 vote Thank Flag Link Wed Jan 30, 2013
call a tile company..your not doing anything illegal
0 votes Thank Flag Link Thu Jul 18, 2013
Using a credit card adds to your debt. Credit cards are not acceptable in buying property.
0 votes Thank Flag Link Mon Feb 11, 2013
call Wieslaw (Wesley) Jura Vice President. NMLS ID 225274. Direct: 773-304-3412. Fax: 773-283-2788. Cell: 312-405-2404. wjura@unitedequity.us.
0 votes Thank Flag Link Tue Jan 29, 2013
John,

Give me a call I may have a great suggestion for you.

Sean Cochran
Quality Mortgage Lending
http://www.qmlending.com
630-470-6830 office
630-330-2229 cell
sean@qualitymortgagelending.net
0 votes Thank Flag Link Tue Jan 29, 2013
If you are looking to borrow money for a short term "fix and flip", then borrowing on these cards could be OK. There are a few strategies to get money off of cards and avoid large fees. Call me.
0 votes Thank Flag Link Tue Jan 29, 2013
Use the checks that the credit cards issue and write the check to yourself. Deposit in your account, and then either wire the funds to the Title company or show up with a cerified check. Be careful on the transaction fee they will chrage you and ofcourse read the terms of the loan.
0 votes Thank Flag Link Sun Jan 20, 2013
Not a good ideal why would you put yourself in more debt to pay debt
0 votes Thank Flag Link Sun Jan 20, 2013
Something is seriously wrong f you cannot come up with some cash. You probaboy should not be bying anything in your current financial situation.
0 votes Thank Flag Link Sun Jan 20, 2013
You will need to come up with the cash and get it into a bank account. Likely you will need to have a certified check or funds wired to close. The bank who holds the property will have specific instructions. Best wishes!
0 votes Thank Flag Link Sat Jan 19, 2013
Michael,

You would have to do cash advances, deposit them in your account, then you would have proof of funding for a cash offer.

Best of luck,

Ivan Sagel
312.515.7823
Ivan@atproperties.com
0 votes Thank Flag Link Sat Jan 19, 2013
You cant buy a property on a credit card.
0 votes Thank Flag Link Sat Jan 19, 2013
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