Which of the following statements is TRUE? *
4 points
Home equity loans or lines of credit are not available to renters
Home equity loans or lines of credit are only available to people who have paid for their home in full
Home equity loans or lines of credit are illegal in most states
Home equity loans or lines of credit are only useful for funding home improvement projects

Answers

Answer 1

The TRUE statement about Home Equity Loans is A. Home equity loans or lines of credit are not available to renters.

What is a home equity loan?

A home equity loan is a line of credit, known as a HELOC, secured by an individual's homeownership which gives the individual a revolving credit line to use.

The homeowner can borrow up to 80% or more based on the home equity built up over the years.

Thus, the TRUE statement about Home Equity Loans is A. Home equity loans or lines of credit are not available to renters.

Learn more about the Home Equity Line of Credit at https://brainly.com/question/26479975


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Answers

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Explanation:

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