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| A legal term for a person or entity that obtains funds from a business or individual for a specified period of time upon condition of promising to repay the loan. |
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| A loan or extension of credit in which the proceeds are dispersed in full when the loan closes and must be repaid, including any interest and finance charges, by a specified date. |
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| a debt collector, is a business or other entity that specializes in debt collection, i.e. pursues payments of debts owed by individuals or businesses. |
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| The act of signing for another person's debt which involves a legal obligation made by the cosigner to make payment on the other person's debt should that person default. |
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| the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future. |
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| a record of a borrower's responsible repayment of debts. |
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| a credit card company will allow someone to borrow on a single card. |
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| A detailed report of an individual's credit history prepared by a credit bureau and used by a lender to in determining a loan applicant's creditworthiness |
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| credit reporting agencies |
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Definition
| one of two types: reporting either on individuals or on businesses. |
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| a number assigned to a person that indicates to lenders their capacity to repay a loan. |
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| the process of taking possession of a mortgaged property as a result of the mortgagor's failure to keep up mortgage payments. |
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| an organization or person that lends money. |
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| A pre-approved loan between a financial institution and borrower that may be used repeatedly up to a certain limit and can subsequently be paid back prior to payments coming due. |
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| a lien imposed by law upon a property to secure the payment of taxes. |
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| payments refers to payment methods that are used as an alternative to credit card payments. |
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| A loan or extension of credit in which the proceeds are dispersed in full when the loan closes and must be repaid, including any interest and finance charges, by a specified date. |
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Definition
| A pre-approved loan between a financial institution and borrower that may be used repeatedly up to a certain limit and can subsequently be paid back prior to payments coming due |
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| Something given as security for a loan; a pledge or guaranty. |
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| a relatively small amount of money lent at a high rate of interest on the agreement that it will be repaid when the borrower receives their next paycheck. |
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| a loan made by a lender that is based on and usually repaid by an anticipated federal income tax refund. |
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| is a type of legally documented transaction under which tangible property |
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| A short-term loan in which the borrower's car title is used as collateral. The borrower must be the lien holder |
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| A yearly fee that may be charged by credit card issuers. It may be thought of as a type of membership fee |
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| The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents the actual yearly cost of funds over the term of a loan. |
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| where part or all of a debit balance (or debt) you owe to another lender is transferred from one credit card to another, usually to save money on interest rates. |
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| a small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit. |
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| the maximum amount a credit card company will allow someone to borrow on a single card. |
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| an interest rate charged to a customer during the initial stages of a loan. |
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| is charged to a borrower who misses paying at least their minimum payment by the payment deadline. |
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| A fee charged by a credit card company if a credit card user exceeds the card's credit limit. |
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| Lenders increase borrowers' interest rate significantly and profit from their mistakes. |
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| An evaluation of a potential borrower by a lender that determines whether the borrower qualifies for a loan from the lender, or the maximum amount that the lender would be willing to lend. |
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| A charge a credit card company may assess to a customer's account if the customer attempts to pay a credit card bill with a check that is returned unpaid. |
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| a summary of the costs of a credit card in the United States. |
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| An interest rate on a loan or security that fluctuates over time, because it is based on an underlying benchmark interest rate or index that changes periodically. |
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| are goods that, according to the 1913 edition of Webster's Dictionary, are capable of being consumed; that may be destroyed, dissipated, wasted, or spent. |
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| a category of consumer products that do not need to be purchased frequently because they are made to last for a long time |
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| one organization to another, but there are some common key elements. |
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| fees paid at the closing of a real estate transaction. |
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| a reduction in the value of an asset with the passage of time, due in particular to wear and tear |
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| an initial payment made when something is bought on credit. |
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| the quality of being fair and impartial |
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| homeowner's association dues |
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Definition
| Shared housing developments such as condo buildings or townhouses can require monthly maintenance fees to the Homeowners Association. |
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Definition
| A form of property insurance designed to protect an individual's home against damages to the house itself, or to possessions in the home. |
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| a person, especially a man, who rents land, a building, or an apartment to a tenant. |
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| grant (property) on lease |
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| an insurance policy which compensates lenders or investors for losses due to the default of a mortgage loan. |
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| the charging of real (or personal) property by a debtor to a creditor as security for a debt |
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| a person who sells and rents out buildings and land for clients |
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| a tenant's regular payment to a landlord for the use of property or land. |
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| a lease in which the asset is tangible property. |
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| A form of property insurance that provides coverage for a policy holder's belongings and liability within a rental property. |
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| a sum of money held in trust either as an initial part-payment in a purchasing process |
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| the term used in the United States to designate a unique charge that government units can assess against real estate parcels for certain public projects |
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| a person who occupies land or property rented from a landlord. |
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| fees paid at the closing of a real estate transaction. |
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