Finance
A New Mexico property owner takes out a 'home equity line of credit' (HELOC). The HELOC is secured by:
AThe owner's vehicle
BThe equity in the owner's real property as a lien against the home✓ Correct
CA personal guaranty only
DThe owner's investment portfolio
Explanation
A HELOC is a revolving line of credit secured by the borrower's home equity, creating a lien against the property. The homeowner can draw on the line as needed, up to the credit limit, during the draw period.
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