What are HELOCs? Are HELOCs negotiable instruments? If not, what are they? What difference does it...

What are HELOCs? Are HELOCs negotiable instruments? If not, what are they? What difference does it make? Explain.

Expert Solution

HELOCs means home equity line of credit Which states that it is a type of loan in which a maximum amount is lend by the lender Within an agreed period where the collateral of of borrowers equity

No , HELOCs are not negotiable instruments.

HELOCs are non negotiable instruments since negotiable instruments us an unconditional promise to pay a fixed sum of money and HELOCs do not have fixed sum of money that is why it called as non negotiable instrument

Rahul Sunny answered 2 years ago

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