Finance
A home equity line of credit (HELOC) is:
AA fixed-rate loan secured by real property
BA revolving line of credit secured by the homeowner's equity✓ Correct
CA second mortgage with fixed monthly payments
DA reverse mortgage product
Explanation
A HELOC is a revolving line of credit that allows homeowners to borrow against their home equity, draw funds as needed, and repay them, similar to a credit card secured by real property.
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