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Updated almost 5 years ago,

User Stats

155
Posts
31
Votes
Austin Bright
31
Votes |
155
Posts

Is it possible to use a 0% APR loan to accelerate amortization?

Austin Bright
Posted

Say the following:

1 I live in a duplex and rent out the other side

2 I take out a 0% interest loan/credit card and pay the principle (ahead of schedule)

3 I "pause the mortgage" (ie "Mortgage Forbearance")

4 I use money from my tenant to pay off the 0% rate loan credit card while my mortgage is "paused"

5 Once the credit card is paid, continue as normal?

Is this something people have done to get equity up front? Is it even possible

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