Finance
A home equity line of credit (HELOC) is a:
AFixed-rate loan secured by the borrower's retirement accounts
BRevolving line of credit secured by the borrower's home equity✓ Correct
CSecond mortgage with fixed monthly payments
DGovernment-backed loan for home improvements
Explanation
A HELOC is a revolving line of credit secured by the borrower's home equity. Borrowers can draw, repay, and redraw up to a credit limit during the draw period. Interest is typically variable, and the home is collateral.
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