Which one of the following would not be a good use of a home equity loan?
A) Paying for college
B) Buying a new boat
C) Putting a new roof on your house
D) Paying medical bills
E) Adding a deck on the back of your house

Question

Quizplus · Accepted Answer

Buying a new boat is not a good use of a home equity loan as it is a luxury item and not a necessity. Home equity loans should be used for important expenses such as home repairs, medical bills, and education.

Possible additional answer: 
Answer: None of the above 
 The best use of a home equity loan depends on an individual's financial situation and priorities. However, using a home equity loan for non-essential expenses or frivolous purchases can lead to long-term debt and financial instability. It is important to carefully consider the pros and cons of using a home equity loan and to seek professional advice if necessary.

Which One of the Following Would Not Be a Good