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. |
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Joint Tenancy |
| A form of co-ownership that gives each tenant equal undivided interest and equal rights in the property, including the right of survivorship. |
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Judgment |
| A decree 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. |
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Judgment Lien |
| A lien on the property of a debtor resulting from a judgment. |
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Judgment Search Fee |
| A fee charged by a title company to search the public record for judgments filed against a property owner or borrower that could ultimately encumber the title of the property. |
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Judicial Foreclosure |
| Type of foreclosure proceeding used in some mortgage states that is handled like a civil lawsuit and conducted entirely under the direction of a court. |
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Jumbo Mortgage |
| A loan that exceeds the maximum loan amount allowed by the most common mortgage investors. The cost of obtaining a jumbo mortgage is generally higher than the cost of obtaining a conforming mortgage. Also known as a non-conforming loan. |
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