which of the following types of credits would best describes home equity loans? a. closed and secured b…
which of the following types of credits would best describes home equity loans? a. closed and secured b. closed and unsecured c. open and secured d. open and unsecured please select the best answer from the choices provided a b c d
Answer
Brief Explanations:
Home - equity loans are secured by the equity in a home. They are also closed - end loans, meaning the borrower receives a lump sum and repays it over a fixed period with a set number of payments.
Answer:
A. closed and secured