Term
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Definition
| A plan to limit the use of credit to no more then 20% of yearly take-home pay, with payments of no more than 10% of monthly take-home plan. |
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Term
| Adjustable-rate Mortgage (ARM) |
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Definition
| A mortgage for which the interest rate changes in response to the movement of interest rates in the economy as a whole. |
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Term
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Definition
| A bond issued by a federal agency. |
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Term
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Definition
| Reduction in the amount of tax withheld from your paycheck. |
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Term
| Alternative Dispute Resolution |
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Definition
| Formal methods of settling disputes without suing the court system. |
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Term
| Annual Percentage Rate (APR) |
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Definition
| The cost of credit expressed as a yearly percentage. |
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Term
| Annual Percentage Yeild (APY) |
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Definition
| The actual interest rate an account earns stated on a yearly basis. |
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Term
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Definition
| Items of value that a person owns. |
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Term
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Definition
| An examination of your tax return and records by the IRS. |
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Term
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Definition
| a prolonged period of falling stocks and a general feeling of investor pessimism. |
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Term
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Definition
| A spending plan based on your expected income and expenses. |
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Term
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Definition
| A prolonged period of riing stock prices and a general feeling of investor optimism. |
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Term
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Definition
| the value of property you possess after deducting your debts. |
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Term
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Definition
| A loan for a specific amount that must be repaid in full, including all finance charges, by stated due date. |
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Term
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Definition
| A law hat allows people who leave employment to continue their health insurance under the company plan for a limited period of time. |
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Term
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Definition
| A Legal document that modifies part of your will and reaffrims the rest. |
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Term
| Consumer Credit Protection Act |
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Definition
| Also known as truth in lending, this law requires lenders to fully inform consumers about the costs of credit. |
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