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GLOSSARY OF MORTGAGE TERMS:
Page 1 of 1 | 5 terms beginning with 'J' Joint tenancy A form of co-ownership that gives each tenant equal interest and equal rights in the property, including the right of survivorship. Judgment A decision made by a court of law. In judgments that require the repayment of a debt, the court may place a lien against the debtor's real property as collateral for the judgment's creditor. Judgment lien A lien on the property of a debtor resulting from the decree of a court. Judicial foreclosure A type of foreclosure proceeding used in some states that is handled as a civil lawsuit and conducted entirely under the auspices of a court. Jumbo Loans Jumbo, or non-conforming, is a term used to describe a loan that does not conform to Fannie Mae or Freddie Mac guidelines. The typical Jumbo loan exceeds the maximum loan amounts described above. |