Finance
A Louisiana home equity line of credit (HELOC) is secured by a:
AFirst mortgage only
BMortgage on the homeowner's equity in the property✓ Correct
CPersonal guarantee with no property lien
DCertificate of deposit at the issuing bank
Explanation
A HELOC is a revolving line of credit secured by a mortgage on the homeowner's equity. Borrowers can draw up to a maximum amount, repay, and borrow again — it is recorded as a mortgage lien in the parish records.
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