Personal Finance - 4.4 Credit and Debt

What is usually needed when borrowing large amounts of money, the loan is secured with collateral

• national debt

• personal debt

• unsecured loan

• secured loan

The amount of money an individual person owes

• national debt

• personal debt

• unsecured loan

• secured loan

a long term rental agreement on a car

• unsecured loan

• secured loan

• lease

• PMI

Is given to borrowers based on their financial resources or ability to repay the loan

• unsecured loan

• secured loan

• PMI

• ARM

ARM

• a part of your body

• adjustable rate mortgage

• adding random math

• reverse mortgage

Tags

CCSS.6.EE.A.1

The process of a lender taking something back (like a car) for failure to make payments

• foreclosure

• repossession

• bankruptcy

• grinch

Private mortgage insurance

• PMI

• insurance needed because you didn't put a large enough down payment down on a house

• pay my insurance

• garnishment

A legal procedure for dealing with debt when an individual or business cannot repay what they owe

• foreclosure

• repossession

• bankruptcy

• garnishment

The amount a country owes

• national debt

• personal debt

• garnishment

• foreclosure

When a homeowner borrows against the equity in their home and obtains monthly, tax-free payments from the lender.

• reverse mortgage

• bankruptcy

• repossession

• garnishment