Across
- 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?
Down
- 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?