Finance
A North Dakota borrower has a home equity line of credit (HELOC). This instrument is secured by:
AThe borrower's personal property
BThe equity in the borrower's home as collateral✓ Correct
CThe borrower's investment accounts
DA co-signer's property
Explanation
A HELOC is a revolving line of credit secured by the equity in the borrower's home. The home serves as collateral, meaning the lender can foreclose if the borrower defaults on the HELOC.
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