Across
- 3. a contract by which one party gives property to another for a specified time, usually in return for a periodic payment
- 7. paying off debt over time in equal installments
- 8. the time between the beginning and ending date of a loan
- 9. long-term failure to repay a loan according to the terms agreed to, which has a substantial negative impact on the borrower's credit score
- 11. the amount of time you have to repay your entire loan
- 12. an agreement in which a borrower receives something of value now and agrees to repay the lender in the future
- 13. original amount of money borrowed, separate from interest or fees
- 14. someone who legally agrees to take responsibility for a person's debt if they cannot repay it
- 16. take something from someone for temporary use with the intention of returning it
- 17. a yearly fee that may be charged for having a specific credit card
- 18. a loan taken by individuals and businesses to make real estate purchases without paying the entire value of the purchase up front
Down
- 1. how risky a creditor believes it is to extend credit to a consumer
- 2. to allow someone to use something on a temporary basis with the understanding that it will be returned and thpe lender will mostlikey be copeenstated in some way
- 4. an agreement where you are credited with a fixed amount of money for a fixed period of time, usually with interest
- 5. something valuable that the lender can take as payment if you can't repay your loan
- 6. the number of days between a borrower's statement date and when payment is due without accruing interest
- 10. in the context of borrowing an amount of money a financial institution charges for a loan
- 15. in the context of borrowing, the amount of money left to be repaid on a loan