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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

A home equity ___________ of credit is a revolving credit second mortgage loan on the equity in a home. (14-6)

To determine

To fill: The blank space in the statement. “A home equity _________ of credit is revolving credit second mortgage loan on the equity in a home”.

Explanation

A home equity line of credit is a loan in which the lender agrees to lend the maximum amount in a given period of time called term.

As home is often the biggest asset owned by the consumer many people use credit loans...

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