Personal Finance Lesson 1-4

A person or firm to whom money is owed from a debtor.

• Creditor

• Debtor

• Float

• Good Faith

A person or firm who owes money to another person or firm

• Mortgage

• Float

• Creditor

• Debtor

The act of releasing all relevant information, both positive and negative, that would impact or influence an investment decision.

• Creditor

• Disclosure

• Debtor

• Mortgage

 Float is the money in the banking system that is briefly counted twice due to delays associated with processing deposits and withdrawals.

• Float

• Creditor

• Debtor

• Judgement Lien

An honest and sincere effort to be open and fair with the intention of following through and fulfilling a promise, even if some legal technicality or ambiguity occurs.

• Creditor

• Disclosure

• Good Faith

• Mortgage

 A court ruling that allows the creditor to take assets from the debtor, if the debtor defaults on his/her contractual obligations.

• Debtor

• Float

• Mortgage

• Judgement Lien

Money is borrowed to purchase or refinance a house or property, and the house or property serves as collateral to secure the debt.

• Judgement Lien

• Mortgage

• Good Faith

• Float