Finance
A home equity line of credit (HELOC) in New Mexico is secured by:
AThe borrower's personal property
BThe equity in the borrower's real property✓ Correct
CThe borrower's investment portfolio
DAn unsecured promise to repay
Explanation
A HELOC is a revolving line of credit secured by a lien on the borrower's real property equity. The homeowner can draw from the line up to the credit limit, using their home as collateral.
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