Why you should avoid getting cash from a credit card at the ATM
Taking money out of a credit card at the ATM is a last-resort option.
Jeffrey L. Beal of Real Estate Solutions has 40 years' experience in multiple phases of the real estate industry, and has been a Certified General Appraiser since 1992. As such, he has consulted and testified as an expert in local, state and federal cases in a variety of matters related to real property or interests in real property where there is an issue of valuation, loss in value, damages or taxation. He is also an expert in issues involving zoning and variances. In addition, he is an expert on appraisal ethics and practice. He is comfortable in front of both a judge and a jury having taught appraisal and real estate courses since 2000 (4,000+ classroom hours). His teaching includes certificate, pre-licensing and continuing education courses at two-year and four-year colleges and private real estate schools.
Taking money out of a credit card at the ATM is a last-resort option.
It isn’t cheap. But what matters more is how fast you can recoup those closing costs.
Mortgage lenders require appraisals to ensure they’re not loaning you more than the home is worth.
If you have bad credit and need to borrow money, don’t get a no-credit-check loan.
Consider some alternatives before getting an instant loan.
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