Finance
A Connecticut homeowner wants to access their home equity without selling or taking out a traditional loan. The best option that provides a revolving line of credit is:
AA home equity loan
BA HELOC (Home Equity Line of Credit)✓ Correct
CA cash-out refinance
DA reverse mortgage
Explanation
A HELOC is a revolving line of credit secured by the borrower's home equity. The borrower can draw funds as needed up to a credit limit, repay, and borrow again during the draw period—similar to a credit card secured by home equity.
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