Click on a link below
for an alphabetized list of Real Estate and Mortgage
Terms.
A
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Joint tenancy
A form of ownership or taking title to property which
means each party owns the whole property and that ownership
is not separate. In the event of the death of one party,
the survivor owns the property in its entirety.
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. Alternative spelling is
"judgement."
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. Other states use non-judicial
foreclosure.
Jumbo loan
A loan that exceeds Fannie Mae’s and Freddie Mac’s
loan limits, currently at $227,150. Also called a nonconforming
loan. Freddie Mac and Fannie Mae loans are referred
to as conforming loans.
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