Across
- 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
Down
- 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