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March 30, 2007

 
1575 Sarno Rd., Melbourne, FL 32935 Phone: (321) 254-1943

 Glossary of Terms

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  • Jalousie window
    A window that consists of vertical rows of horizontal glass slats that operate together by a crank mechanism that connects all the slats.

  • 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.

  • Junior mortgage
    A loan that subordinate to the primary loan.