Can I Pay My Mortgage With Bitcoins?

#realestate #boston Bitcoin is already in retail and restaurants — so it was only a matter of time before the cryptocurrency took on real estate. That time is now. Bitcoin is slowly making its way into closings on everything including real estate.

But paying your mortgage with Bitcoin is different, the only way a lender would probably be willing to accept bitcoins directly is if they saw some overwhelming value in the currency (if it’s a currency). And even then, it would be pretty doubtful given the infrastructure that would need to be in place, along with whatever compliance stuff would need to happen. Paying the mortgage in bitcoin would also complicate matters if and when you needed to document your payment history for a subsequent mortgage or refinance. Anonymity isn’t favored here.

Bitcoin reminds me of Tulip mania or "tulipomania" that took place during the Dutch Golden Age during which contract prices for bulbs of the recently introduced tulip reached extraordinarily high levels and then suddenly collapsed. This is the same reason why you can’t send your mortgage lender bars of gold to pay your mortgage or shoot them over a few shares of Amazon or Tesla stock every month to meet your obligations.

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Carlos MorenoComment