| Jeopardy |
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| An element of risk or danger. |
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| Joint Account |
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| A credit account held by two or more people so that all can use the account and all assume legal responsibility to repay. |
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| Joint and Several Liability |
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| A situation whereby a creditor can demand full repayment from any and all borrowers. Each borrower is liable for the full debt, not just the prorated share. |
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| Joint Tenancy |
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| A form of co-ownership that gives each tenant equal undivided interest and equal rights in the property, including the right of survivorship. |
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| Joint Venture |
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| An agreement between two or more parties who invest in a property or business. |
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| Judgement Search Fee |
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| A fee charged by a title company to search the public record for judgements filed against a property owner or borrower that could ultimately encumber the title of the property. For our comparison purposes, a judgement search fee is considered to be a third party fee. Some lenders will include this fee in the title insurance cost. |
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| Judgment |
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| A decree 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. |
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| Judgment Lien |
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| A lien on the property of a debtor resulting from a judgment. |
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| Judicial Foreclosure |
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| Type of foreclosure proceeding used in some mortgage states that is handled like a civil lawsuit and conducted entirely under the direction of a court. |
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| Jumbo Mortgage |
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| A loan that exceeds the maximum loan amount allowed by the most common mortgage investors. The cost of obtaining a jumbo mortgage is generally higher than the cost of obtaining a conforming mortgage. Also known as a non-conforming loan. |
