Glossary - J
Joint tenancy
A form of co-ownership that gives each resident the same interest and equal rights in the property, including the right of survivorship.
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 totally under the auspices of a court.
Jumbo loan
A loan that exceeds Fannie Mae’s legislated mortgage amount limits. Also know a nonconforming loan.
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