Joint liability The
responsibility of two or more people to fulfill the
terms of a home loan or debt.
Joint tenancy Ownership
by two or more people that gives equal shares of a piece
of property. Rights pass to the surviving owner or owners.
Joist A floor or ceiling
support member supported by foundation walls, piers
or beams. Subflooring is connected to floor joists.
Judgment The decision
of a court or law. If a court decides that a person
must repay a debt, a lien may be placed against that
person's property.
Judicial foreclosure
A procedure to handle foreclosure proceedings as civil
matters.
Jumbo mortgage Loans that exceed limits
set by Fannie Mae and Freddie Mac. The current limit
is $214,600.
