Which of the Following Is Not True in Regard to a Home

question 45

Multiple Choice

Which of the following is not true in regard to a home equity line of credit (HELOC) ?

• A)With a HELOC,you apply once for the loan and can use it for any expenses.
• B)As you pay off your HELOC,you have more credit available to use.
• C)There are tax incentives on your HELOC.
• D)You will have a fixed payment for a specific time frame with a fixed interest rate.

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Definitions:

Reinforcements

Stimuli or outcomes that strengthen the probability of a behavior's occurrence, either by presenting a positive stimulus or removing a negative one.

Humans

A species of highly intelligent primates known scientifically as Homo sapiens, characterized by bipedalism, complex language use, and advanced social structures.

Excessive Consumption

The act of consuming goods or resources in quantities greater than those considered normal or sustainable.

Alcohol

A psychoactive substance found in beverages such as beer, wine, and spirits, known for its intoxicating effects.