People that arent paying their mortgages.
“People that arent paying their mortgages.”
Yep....It’s amazing how much cash you free up when you don’t have that pesky mortgage, and you default on your credit cards.
Yeah, they're not paying their mortgages to pay down their credit cards, by the time they pay those off, they can then start paying the mortgages again (in theory) and the banks will be happy campers.
I actually know someone who is doing this. They owe about 6K on credit cards, and figured if they took three mortgage payments to put on the card, then they would pay one mortgage payment, and put another three mortgage payments on the card, they'd have the card paid off on 7 months, and still wouldn't have lost their house.