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 considered a luxury expense and will not add any value to your home or financial well-being.

Other good choices could include paying for home improvements (such as putting a new roof on your house or adding a deck), paying for college, or paying for unexpected medical bills. These uses could potentially increase the value of your home or improve your overall financial situation.

Which One of the Following Would Not Be a Good