credit that automatically renews whenever a payment is made to reduce the debt

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

a legal claim against (or right to own) an asset until the debt (loan) is repaid​​​​​​​

an asset that increases in value over time​​​​​​​

the increase in value of a home over time; the difference between the amount owed and what the home could be sold for​​​​​​​

failure to repay a loan on time​​​​​​​

a loan for a fixed amount of money that‘s paid back in monthly installments  

an asset that loses value over time, such as a car that’s worth less every year​​​​​​​

a lender who uses deceptive, unfair, or fraudulent practices on borrowers who are desperate for cash

a statistical number used to represent a consumer‘s creditworthiness

a company that collects credit rating information and makes it available to creditors

the original amount of a loan; the total amount borrowed before interest

the additional cost a lender charges for borrowing their money​​​​​​​

the amount of time, in months, that you’ll be making payments​​​​​​​

the loss of value of an asset over time

when the value of an asset falls below what is owed on it