Which of the Following Statements Is True

question 67

Multiple Choice

Which of the following statements is true?

• A) Home equity loans allow additional drawings for investment purposes.
• B) Home equity loans allow additional drawings for consumption purposes.
• C) Home equity loans allow borrowers to increase the balance outstanding on their mortgages up to an agreed limit.
• D) All of the above.

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Definitions:

Fair Credit Reporting Act

A U.S. federal law that regulates the collection, dissemination, and use of consumer credit information.

Credit Bureaus

Organizations that collect, maintain, and provide consumer credit information for the purpose of evaluating creditworthiness.

Complete Information

A scenario or state where all participants or parties have access to all necessary information, usually referenced in economics and game theory.

Telephone Consumer Protection Act

U.S. legislation regulating telemarketing calls, auto-dialed calls, prerecorded calls, text messages, and unsolicited faxes.