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Joint Tenancy: Type of ownership in which
two ore more people have an undivided interest
in a property, with the right of survivorship.
Upon the death of one owner, the other owner has
the right to own the entire property.
Judgment: The final decision made by a
court of law. Money judgments, when recorded,
become a lien on real property of the defendant.
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. Freddie Mac and Fannie
Mae loans are referred to as conforming loans.
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