Finance
A home equity line of credit (HELOC) in Arizona is best described as:
AA fixed-rate second mortgage
BA revolving line of credit secured by the borrower's home equity✓ Correct
CA refinance of the first mortgage
DA construction loan for home improvements
Explanation
A HELOC is a revolving line of credit secured by home equity, allowing the borrower to borrow up to a limit, repay, and borrow again during the draw period, similar to a credit card secured by real estate.
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