Aim: What do I need to know about buying a house?
Do Now: Copy the following terms into your notebook:
Collateral: Security given for the payment of a loan.
Investment: Investment of money to gain profitable returns.
Securitized Loan: A secure loan that is protected by security, or collateral, to ensure loan repayment.
Down Payment: The amount of money paid upfront at the time of purchase.
Credit: An agreement by which a borrower receives something of value now and agrees to pay the lender at a later date.
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