Do home loans have to be used for a house?

Xanthia Alysha · Tweet this Post! #1 (**permalink**) 11-24-2009, 05:23 AM

Can I use a home loan (i.e. VA home loan) to use for personal debt consolidation, or do i have to use the money to purchase a house? I don't need a house i like where I live currently I just need to pay off some dept, any advice on this would be appreciated. Thanks in advance

Money_maker · Tweet this Post! #2 (**permalink**) 12-02-2009, 09:42 AM

Basically if you get home loan then they just provide you home, and for personal try to get personal loan. dont use tricky method it will create problem.

david1987 · Tweet this Post! #3 (**permalink**) 12-23-2009, 06:20 AM

Hi Alysha,

Personal loan or Home loan both are different, you are clever but it would be harmful to you if you have to mixed both.

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