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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
loan
A loan that exceeds Fannie Mae’s legislated mortgage amount limits.
Also called a nonconforming loan.
Junior Mortgage/Junior Lien- A lien that has a subsequent position
to the "first" lien position or "first mortgage" i.e.
a "second mortgage" , home equity loan…
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