Builder defaulted on construction of home.

[godad192855]

How can claim/deduct losses due to builder defaulted on home construction?  Had approved loan to build my retirement home, but builder did nothing over 6 months other than excuses.  Had to fire builder and still had to pay over $7K on unused loan. Plus loss additional $10K  trying to settle.

[NCperson]

it's a personal loss, so nothing is deductible