Across
- 3. Always stay away from these types of loan lenders
- 5. Credit: a loan for a fixed amount of money that‘s paid back in monthly installments
- 6. the increase in value of a home over time; the difference between the amount owed and what the home could be sold for
- 7. Borrowers usually don’t have to put up collateral to get a ------ loan.
- 8. credit that automatically renews whenever a payment is made to reduce the debt
- 10. is 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. a legal claim against (or right to own) an asset until the debt (loan) is repaid
- 12. Loans used for school
- 14. a loan used to move several debts into one payment
- 15. home equity line of credit abbreviation
- 16. Credit or loans that don‘t require collateral (like a credit card) are called this
Down
- 1. a lender who uses deceptive, unfair, or fraudulent practices on borrowers who are desperate for cash
- 2. an asset that loses value over time, such as a car that’s worth less every year
- 4. type of loan where house is the collateral (Hint: Not Home Equity Loan)
- 9. term is used for the failure to repay a loan on time
- 13. an asset that increases in value over time