Question by Jack L: Tell me why I should not use credit lines to buy a house?
I have excellent credit and have lots of credit cards with high limits and no or low interests (from 0 to 2.99%). I have been switching them from one another when their terms expired. I’m thinking about using them to buy a house. I could beat the current 6.375% and avoid from having a mortgage. With a house title in my hand I could take time to pay off these credit cards. Worse I could have a bad credit but still have a house. What’s pros & cons?
Answer by leelee
look at the economy right now! do you really want to do that??
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