Sources and Types of Credit

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Across
  1. 5. What is a credit line based on home equity called?
  2. 6. What increases every time you use a credit card?
  3. 8. Asset An asset that loses value over time
  4. 10. Something owned (that has value) offered as security on a debt; if not repaid, it is taken by the lender
  5. 12. Credit A loan paid back in fixed monthly payments over time
  6. 13. What type of loan has fixed payments and a fixed amount?
  7. 14. The difference between what is owed on a home and what it can be sold for
Down
  1. 1. Asset An asset that increases in value over time
  2. 2. Credit Credit that automatically renews whenever a payment is made to reduce the debt
  3. 3. What is a financial lien against a property
  4. 4. What type of loan requires collateral?
  5. 6. Failure to repay a loan on time
  6. 7. Lending Unfair or deceptive lending practices that take advantage of borrowers
  7. 9. What type of loan does NOT require collateral?
  8. 11. A legal claim against an asset until the loan is repaid