Textbook Game

4. a lender who uses deceptive, unfair, or fraudulent practices on borrowers who are desperate for cash
7. 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. money borrowed from the federal government or private lenders to pay the cost of going to college
13. an example of installment credit
14. Credit or loans that don‘t require collateral (like a credit card)
15. the increase in value of a home over time; the difference between the amount owed and what the home could be sold for

1. Every time you spend with a credit card you add to it
2. an asset that increases in value over time
3. an asset that loses value over time, such as a car that’s worth less every year
5. a loan for a fixed amount of money that‘s paid back in monthly installments
6. often used to pay for anything from a vacation to debt consolidation
8. a legal claim against (or right to own) an asset until the debt (loan) is repaid
9. credit that automatically renews whenever a payment is made to reduce the debt.
10. The abbreviation of home equity loan or a home equity line of credit
12. failure to repay a loan on time