Finance
A Connecticut homeowner takes out a home equity line of credit (HELOC). This is secured by:
AThe homeowner's vehicle
BThe equity in the home as collateral✓ Correct
CThe homeowner's retirement accounts
DUnsecured personal credit
Explanation
A HELOC is a revolving line of credit secured by the borrower's home equity. The home serves as collateral, making a HELOC a second mortgage on the property.
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