As a first time home buyers can I consolidate my debt using the remaining money from my home loan?

I am planning on buying a house soon, and the value of the house is less then the loan amount for which I have been approved. I want to know if I can take that remaining money and use it to pay off my outstanding debt. (credit cards, car loans etc.) Essentially consolidating my debt into one payment.

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Sat, Jul 4, 2009

Debt Consolidation

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Tags: Buying A House, Buying House, Car Loans, Consolidate Debt, Consolidate My Debt, Consolidating Debt, Credit Cards, Debt Credit, First Time Home, First Time Home Buyers, Home Loan, House Value, Money, Money Loan, Time Home Buyers

One Response to “As a first time home buyers can I consolidate my debt using the remaining money from my home loan?”

  1. Landlord Says:
    July 4th, 2009 at 2:43 am

    You can not have a higher mortgage then the sales amount, the appraised amount means nothing.


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