Birdwatch Note Rating
2023-03-03 15:35:15 UTC - HELPFUL
Rated by Participant: 94F773CB8B2B1308A1CC2A4BE5EBD1AF651C04B7CE3DEEA1CF91F3415A4FA00F
Participant Details
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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