Mortgage Terms Glossary

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J&K

Joint tenancy: see tenancy.

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.

Jumbo loan: a nonconforming loan that is larger than the limits set by the Federal National Mortgage Association (FNMA) or Federal Home Loan Mortgage Corporation (FHLMC) guidelines.

Key lot: real estate deemed highly valuable because of its location.

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