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J
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 that exceeds Fannie Mae’s legislated mortgage amount limits. Also called a nonconforming loan.
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