Fabulous Finance

5. What must a borrower read carefully to understand loan terms?
7. What term describes loans that trap borrowers with high costs and fees?
8. What happens when a borrower fails to repay a loan on time?
9. What is something of value used as security for a loan?
11. What do lenders require to ensure they’ll get repaid if you default?
15. What is the amount you must pay each month on an installment loan?
16. What do you call an asset that increases in value over time?
17. What kind of loan has a set payment schedule and end date?
18. What type of credit automatically renews when you make payments?
19. What legal claim gives a lender rights to an asset until debt is repaid?

1. What is the ultimate goal of learning how credit works?
2. What type of credit card balance renews automatically each month?
3. What type of asset commonly loses value, such as a vehicle?
4. What do you call an asset that loses value over time?
6. What type of loan is paid back in monthly installments?
7. What type of lender uses unfair or deceptive practices?
10. What is another word for the money that is owed to a lender?
12. What represents ownership or value you build over time in your property?
13. What is the difference between a home’s value and what’s owed on it?
14. What term describes the cost of borrowing money, often shown as a percentage?