Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
25 Cards in this Set
- Front
- Back
|
advance-fee loans |
type of loan that includes a large upfront fee |
|
|
annual fee |
yearly charge to your account for membership |
|
|
balloon payment |
large lump-sum payment that must be paid at a set time |
|
|
billing cycle |
time period during which you must make your monthly payment |
|
|
consideration |
something of value exchanged for something else |
|
|
consumer finance company |
a lender that generally offers high-interest loans to consumers who may be ineligible for other types |
|
|
contract |
a legally binding agreement that specifies the rights and duties of each party |
|
|
debt repayment plan |
a strategy for paying off debt in a way that reduces total interest paid
|
|
|
down payment |
cash deposit toward the purchase price |
|
|
eviction |
process of expelling a tenant from rental property |
|
|
grace period |
the amount of time you have to pay your credit card bill without having to pay interest on your new purchase |
|
|
lease |
rental agreement that specifies the rights and duties of landlord and tenant |
|
|
living habits |
your daily routine; the way you choose to live your life |
|
|
loan shark |
person who offers illegal unsecured loans at very high interest rates |
|
|
logistics |
act of making a plan and carrying it out to ensure an event takes place |
|
|
market value |
highest price a property will bring to the open market |
|
|
mortgage |
long-term debt agreement use to buy real estate |
|
|
pre-payment plan |
plan for paying any outstanding debts |
|
|
property manager |
hired to take care of rental property and to communicate with tenants on behalf of the owner |
|
|
refinancing |
paying off an old loan by taking out a new loan, usually with better terms |
|
|
roomate |
a person with whom you share living space and responsibilities |
|
|
sales finance company |
lender that makes loans for the purchase of consumer goods, often working closely with the seller |
|
|
security deposit |
refundable amount paid to cover damages to property caused by the tenant |
|
|
trade-in |
something of value applied toward the down payment of a new purchase |
|
|
unused credit |
difference between your credit limit and your current balance |
