Finance
A home equity line of credit (HELOC) is best described as:
AA fixed-rate second mortgage
BA revolving line of credit secured by the borrower's equity in their home✓ Correct
CA government loan program for low-income homeowners
DA refinancing of the original mortgage
Explanation
A HELOC is a revolving line of credit secured by the borrower's home equity. Like a credit card, borrowers can draw funds as needed up to the credit limit, repay, and draw again.
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