| A | B |
|---|
| credit | allowing a person, business, or government to use money, goods or services at the present in return for a promise of future payment |
| mortgage | a long term debt owed on real property, such as a house (last for 15 or 30 years) |
| finance charge | the cost of credit expressed in dollars and cents that must be paid over the life of a loan |
| collection agency | a business that attempts to secure payment of overdue debts for a fee |
| cosign | to sign a loan contract along with a borrower and promise to repay the loan if the borrower does not |
| credit bureau | an agency that collects and distributes information about people's credit histories |
| foreclosure | to take title to a property because of nonpayment of a debt |
| collateral | assets used as security or backing for a loan |
