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All are true regarding HELOC's except: A) usually at a variable rate of interest B) provide tax advantages to the borrower C) growing in popularity
All are true regarding HELOC's except:
A) usually at a variable rate of interest
B) provide tax advantages to the borrower
C) growing in popularity as credit card lines are reduced or tapped out
D) provide a junior-lien position to first-lien loans
E) often securitized in the secondary market
F) The portion of HELOCs not advanced is an unfunded contingency carried OFF the balance sheet of a bank similar to untapped credit card lines
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