1. Key Terms Financial/Housing Crisis

2. Debt When you owe more money than you have.

3. Foreclosure When the bank takes your house because you have stopped paying your mortgage.

4. Credit the ability of a customer to get/obtain goods or services before payment, based on the trust that payment will be made in the future

5. Bubble When the value of something is overvalued

6. Credit Rating The rating that tells the bank how likely you are to repay a loan.

7. Mortage A complex loan for a house.

8. Real Estate Property one owns

9. Asset Something one OWNS that is worth money.

10. 2007/2008 Years that mark the beginning of the financial crisis (Housing market crash)

11. Overspeculating “over predicting” the value of something.