Across
- 2. a loan for a fixed amount of money that's paid back in monthly installments
- 6. when the value of an asset falls below what is owed on it
- 8. a lender who uses deceptive, unfair, or fraudulent practices on borrowers who are desperate for cash
- 10. a statistical number used to represent a consumer's creditworthiness
- 12. 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
- 13. credit that automatically renews whenever a payment is made to reduce the debt
- 14. the loss of value of an asset over time
- 15. the increase in value of a home over time; the difference between the amount owed and what the home could be sold for
- 16. failure to repay a loan on time
Down
- 1. the original amount of a loan; the total amount borrowed before interest
- 2. the additional cost a lender charges for borrowing their money
- 3. money owed to another person or company
- 4. an asset that increases in value over time
- 5. an asset that loses value over time, such as a car that's worth less every year
- 7. the amount of time, in months, that you'll be making payments
- 9. a legal claim against (or right to own) an asset until the debt (loan) is repaid
- 11. a company that collects credit rating information and makes it available to creditors