Birdwatch Note Rating
2023-02-28 09:22:35 UTC - NOT_HELPFUL
Rated by Participant: 1B1CB1F89D1E81632D4FDC6BA92128E495C177985E7EF4E0D3550B57B56A0E90
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Original Note:
Home Equity Lines of Credit (HELOCs) do not allow someone to borrow from “themselves” rather than a bank. The money is loaned by a bank, with home equity as collateral for the loan. https://www.rocketmortgage.com/learn/home-equity-line-of-credit https://www.bankofamerica.com/mortgage/learn/what-is-a-home-equity-line-of-credit/ https://www.nerdwallet.com/article/mortgages/heloc-home-equity-line-of-credit https://www.wsj.com/buyside/personal-finance/what-is-a-home-equity-line-of-credit-01669668213
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