What Is the Major Advantage to Having a Home Equity

question 58

Multiple Choice

What is the major advantage to having a home equity line of credit (HELOC) ?

• A)It can be used by an entire family.
• B)Banks give guidance on when to use a HELOC.
• C)The HELOC acts like a revolving charge account.
• D)Ease of access to student loans

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Definitions:

Investments

Financial assets purchased with the aim of generating income or appreciation in value over time.

Providing Service

Providing service involves performing tasks or work for customers, often in exchange for payment, as part of a business's operations.

Additional Paid-in Capital

This refers to the amount of money investors have paid for shares above and beyond the par value of the shares, recorded in the equity section of the balance sheet.

Selling Assets

The act of disposing of physical or intangible property owned by a company for cash or other considerations.