Mortgage glossary

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Joint Tenancy: joint ownership by two or more persons such as husband and wife, business partners, etc. Each person has equal rights to the property and ownership passes to the survivor in the event of death.

Judgment: a legal decision; when requiring debt repayment, a judgment may include a property lien that secures the creditor's claim by providing a collateral source. FFI mortgage glossary.

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 mortgage for an amount greater than the amount eligible for purchase by Fannie Mae or Freddie Mac.