chapter 4

2. an asset that increases value over time.
4. when the value of an asset falls below what is owed on it
5. the original amount of loan, before fees and interest.
6. the amount of time in months that you will be making payments.
7. money owed to another person or company.
10. the additional cost a lender charges for borrowing their money.
11. a lender who uses deceptive practices on borrowers who are desperate for cash.
12. asset that loses value over time ex. a car
13. something of value offered as security on debt.
14. a legal claim against an asset until the debt is repaid.
15. the increase in value of a home over time, the profit of sell of the home from what you owe.

1. a loan for a fixed amount of money that is paid back in monthly installments.
3. credit that automatically renews whenever a payment is made to reduce the debt.
8. Score a statistical number used to represent credit worthiness.
9. a company that makes credit rating info available to creditors.
12. money owed to another person or company.