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debt consolidation and home loans

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Post Posted: Sun Mar 13, 2011 6:17 pm    Post subject: debt consolidation and home loans
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is there a lender that can do a first time buyers home loan that will lend you more than the house is worth in order to consolidate your other remaining debt. i.e. car, credit card...?
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adonis




Joined: 22 Oct 2005



Posts: 10562
Location: ALASKA
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Post Posted: Sun Mar 13, 2011 8:19 pm    Post subject:
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Hi Guest,

Lenders won't give you a loan which is more than the worth of home that you're buying. Thus, it will be difficult for you to consolidate your other debts with the mortgage.

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