Mortgage Glossary (J)
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Judgment Lien: A lien on the property of a debtor resulting from the decree of a court.Jumbo Loan: A loan that exceeds the mortgage amount eligible for purchase by Fannie Mae or Freddie Mac. Also called "nonconforming loan."
Junior Mortgage: A loan that is subordinate to the primary loan or first-lien mortgage loan, such as a second or third mortgage.
Judicial Foreclosure:A foreclosure through court action instead of going through a power of sale. Judicial foreclosure is typically regulated by state laws.