Question: What is the biggest difference between a closed end second mortgage and a HELOC Question 3 options: 1 ) the HELOC can have multiple advances

What is the biggest difference between a closed end second mortgage and a HELOC
Question 3 options:
1)
the HELOC can have multiple advances
2)
the fees are higher for the second
3)
a HELOC is more of a risk for the borrower
4)
the interest rate is fixed

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