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Olegator [25]
3 years ago
8

Anna and Ken go to their bank for a home equity line of credit. What collateral can they use to obtain a secured loan?

English
1 answer:
Nina [5.8K]3 years ago
4 0

Answer:

The answer is they can use their house as a collateral and use the money to pay all the property debts.

Explanation:

Because it revolves a secure credit line, funds up to maximum amount secured by the house. This type of loan should be paid back to the lender. It should not be confused with  mortgage, because here we have a legal loan in which a piece of the property is pleged to the lender.

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