Joint and several note
Two or more persons or entities, each of whom is liable for the full
amount of the debt.
Joint
tenancy
Form of co-ownership giving each tenant equal interest
and equal rights in the property, including the right of survivorship.
Judgment lien
Lien
upon the property of a debtor resulting from a decree of the court.
Judicial foreclosure
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
Also known as a non-conforming loan. The amount of the loan exceeds
standards that would make it eligible for sale to Fannie Mae and Freddie
Mac. |
