Finance
In South Dakota, a home equity line of credit (HELOC) is a type of:
AUnsecured revolving credit line
BRevolving credit line secured by the borrower's equity in their home✓ Correct
CFixed-rate second mortgage
DSeller-financed transaction
Explanation
A HELOC is a revolving line of credit secured by the borrower's home equity. Borrowers can draw funds as needed up to the credit limit, pay them back, and draw again during the draw period.
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