Why won't my Mortgage company (Countrywide) let me make a payment with a credit card?

[erinellii]

I just had car trouble that I paid over a thousand dollars on, and my bank account is low. If I could make the mortgage payment with a credit card and pay the credit card with my next paycheck, I'd be all good, but that's not an option Countrywide accepts. Why not?

[rebecca v]

probably because credit isn't real money. it means you are going into debit somewhere else away from the mortgage, they would just rather your debit stays in one place. it also means that if the bank had to foreclose on the house, that two banks would now have a claim on the house - the credit card people and the mortgage company.

I know what you are saying, and it makes sense, but banks wont even let you do it once, although their real concern is that people will do it longer than once. best to speak to your bank and arrange to make a late payment when your cheque comes in.

Of course if you drew money out of your credit card and put the money into your mortage, they just see money, they don't know where it is coming from. This woud work, but I would not recommend it unless you are positive you can pay it out in one go next pay day. the interest rate on this is quite high.