Chapter 4 lesson 2 crossword game

2. house mortgage is a mortgage is a loan that typically lasts for________ years and is used to buy a house
4. this thing loses value as soon as you take it out of the lot
6. money borrowed from the federal government or private lenders to pay the cost of going to college
7. what type of credit is when you have to put down a security deposit or use something as collateral.
9. something owned (that has value) offered as security on a debt; if the debt is not repaid as agreed, the item is forfeited to the lender
11. what type of asset is an asset that loses value over time, such as a car that’s worth less every year
13. a lender who uses deceptive, unfair, or fraudulent practices on borrowers who are desperate for cash
16. score what number shows how well a person manages credit
19. what type of asset is an asset that increases in value over time

1. what percent of Americans have a credit card.
3. what type of loans from a bank, credit union, or other lender are often used to pay for anything from a vacation to debt consolidation
5. what type of credit is a loan for a fixed amount of money that‘s paid back in monthly installments
8. failure to repay a loan on time
10. a legal claim against (or right to own) an asset until the debt (loan) is repaid
12. credit is when the lender doesn’t require you to put down a security deposit or collateral.
14. the increase in value of a home over time; the difference between the amount owed and what the home could be sold for
15. what type of credit that automatically renews whenever a payment is made to reduce the debt
17. Credit or loans that don‘t require collateral (like a credit card) are called unsecured _____
18. history a record of how a person has used credit and paid back debt