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Mortgage Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Judgment:
A legal decision.  When requiring debt repayment, a judgment may include a property lien that secures the creditor’s claim by providing a collateral source.
Jumbo Limit:
Loan limit above the conforming limit.  Jumbo loans are subject to higher rates.  Currently, this applies to loan amounts over $359,650.