The ____ is really a second mortgage on your home.
A)affinity card
B)unsecured personal credit line
C)home equity line of credit
D)preferred Visa card
E)platinum American Express card

Question

Quizplus · Accepted Answer

The home equity line of credit is a loan that is secured by your home equity, which means it is essentially a second mortgage on your property. This type of credit line allows you to borrow against the equity you have built up in your home and is generally used for larger expenses, such as home improvement projects or debt consolidation. It is important to consider the risks and benefits of using a home equity line of credit before applying for one, as failure to make payments can result in foreclosure on your home.

The ____ Is Really a Second Mortgage on Your Home