Which of the following statements is true concerning home equity loans?

Question

A. Home equity loans are generally installment loans with a 5-15 year term.
B. Home equity loans are secured by all of the borrower’s assets.
C. Home equity loan interest is never tax-deductible.
D. Home equity loan proceeds are generally restricted as to purpose.

Answer 1

And your answer is?

http://en.wikipedia.org/wiki/Home_equity_loan