Birdwatch Note Rating
2023-03-02 20:08:29 UTC - HELPFUL
Rated by Participant: D08095D829205610AFA96EE4745C814F88DFB5BE5B73E8468C45B69DA8E47F23
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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