J

Joint Ownership: Legal ownership between two or more parties.

Joint Tenancy: A specific way of holding title to a property owned by two or more parties which may specify rights of survivorship.

Judgment: A court order for payment which can result in liens against the defendant’s property.

Jumbo Loan: A loan which exceeds the limits set by Fannie Mae and Freddie Mac. 

Junior Mortgage: A mortgage subordinate to another mortgage. All senior mortgages will be paid prior to junior mortgages in the case of a foreclosure.