 |
|
| • | Joint Account - A credit account held by two or more people so that all can use the account and all assume legal responsibility to repay. |
|
|
|
| • | 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 which is larger (more than $322,700) than the limits set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. Because jumbo loans cannot be funded by these two agencies, they usually carry a higher interest rate. |
|
|
|
