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AAFM Exam CWM_LEVEL_2 Topic 6 Question 86 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam
Question #: 86
Topic #: 6
[All CWM_LEVEL_2 Questions]

Section A (1 Mark)

A(n)____________________________________________ is where the customer can use the difference between some percentage of the appraised value of their home and the mortgage remaining to secure a loan. This loan can be used to fund a college education, pay for a vacation or pay for home improvements.

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Suggested Answer: B

by Mitsue at Sep 07, 2024, 04:29 AM

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Louis
1 months ago
Home Equity Loan - the name makes it sound like you're taking out a loan against your home. Seems like a reasonable option if you need the money.
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Thurman
2 months ago
Home Equity Loan, for sure. It's like your house is a piggy bank you can break open when you need some cash!
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Detra
12 days ago
I've never considered a home equity loan, but it does sound like a good option.
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Lai
13 days ago
I prefer personal loans, they seem more flexible to me.
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Kenny
20 days ago
I agree, it's a great way to access funds for big expenses.
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Diane
2 months ago
This is definitely a Home Equity Loan. I remember learning about those in my personal finance class. Seems like a useful option if you need some extra funds.
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Elina
2 days ago
Definitely something to consider if you're in need of some extra cash.
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Patria
9 days ago
I've heard they can have lower interest rates compared to other types of loans.
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Chaya
27 days ago
It's a smart way to use the equity in your home for other expenses.
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Carmela
2 months ago
I agree, a Home Equity Loan can be a great option for accessing funds.
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Trinidad
2 months ago
I think it's gotta be Home Equity Loan. That's the one where you can tap into the value of your home to get some extra cash.
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Hana
2 months ago
I agree with Alyce, A) Home Equity Loan makes the most sense in this scenario.
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Juan
2 months ago
Home Equity Loan sounds like the right answer here. It allows you to use the equity in your home to secure a loan for other expenses.
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Shenika
1 months ago
Home Equity Loan is a popular choice for homeowners looking to access funds for various purposes.
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Buck
1 months ago
I've used a Home Equity Loan before, it's a great option for funding big expenses.
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Adell
2 months ago
User 2
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Elenore
2 months ago
User 1
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Doyle
2 months ago
That's correct! Home Equity Loan allows you to use the equity in your home to secure a loan for other expenses.
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Audria
2 months ago
I agree, Home Equity Loan is the correct answer.
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Alyce
3 months ago
I think it's A) Home Equity Loan because it mentions using the appraised value of the home to secure a loan.
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Melynda
3 months ago
A) Home Equity Loan
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