Dictionary
- I
Mortgage terms and definitions for
home buyers, home sellers, and real estate consumers. Use
the links below to find the word you're looking for.
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Z
Judicial
Foreclosure -
A court procedure used by lenders to secure clear title
to a property under a defaulted real estate loan.
Jumbo
Loan -
A loan for $333,700 or more in the continental United States
(Alaska and Hawaii limits are higher). These limits are
set by the Federal National Mortgage Association and the
Federal Home Loan Mortgage Corporation. Because jumbo loans
cannot be funded by these two agencies, they usually carry
a higher interest rate.
