A major element of such loans is that the person who borrows the loan does not have to specifically use it for one purpose
http://xtremespearfishing.com/members/member/27227/ You can never owe more than the value of your home at the time that you (or your heirs) sell the home, even if the lending company has paid out more than the home is worth at sale time
http://idlebrains.org/finance/what-a...or-cash-loans/ In such cases, if the borrower as a remarkably good salary and a bad credit rating then the loan is unsecured
http://v1.trifectainteractive.com/member/332747/ And that is the rationality of existence of private personal loans is there in the cash market nowadays
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