If Brian Has a Home Worth $400 000 and a Mortgage

question 11

True/False

If Brian has a home worth $400 000 and a mortgage of $200 000,he should be able to get a HELOC for $160 000 at a better interest rate than if he got an unsecured line of credit.

---

Definitions:

External Search

The process by which consumers seek information from sources outside their personal knowledge, such as online reviews or expert opinions, to make buying decisions.

Upgrade

The process of improving or enhancing a product, service, or system to a higher standard or version.

First Home

Typically refers to the first house that a person or family purchases and lives in.

Consumer Decision-Making Process

The steps that consumers go through before, during, and after making purchases, including need recognition, information search, evaluation, purchase, and post-purchase behavior.