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 loan
A loan that exceeds Fannie Mae’s legislated
mortgage amount limits.
Also called a
nonconforming loan.
