Glossary of Terms

Following are mortgage and real estate related terms and definitions you may find helpful.

If you have questions and would like to speak with a VA mortgage specialist, please call us toll free at 1-866-704-2826.

Currently Viewing '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 Loans: Jumbo, or non-conforming, is a term used to describe a loan that does not conform to Fannie Mae or Freddie Mac guidelines.