1. your house is worth $278 000 and you have a first mortgage of $190 000 you are also using the house to secure a personal loan for $8500. How large a home equity line of credit can you qualify for? a) $63 600 b) $31 400 c) $70 400 d) $23 900 2. lenders do not like to lend the full amount of the equity in your home when extending a home equity line of credit because a) They want to help you make responsible borrowing decisions b) They want to make sure that you can afford the minimum monthly payment c) The lender can claim your home d) The market value of the home may decline 3. A secured credit card allows a consumer to transfer the balance owed on an existing credit card to save money on interest. a) True b) false