Phoenix Arizona home loans including FHA loans, VA mortgages and conventional home loan financingPhoenix Arizona home loans including FHA loans, VA mortgages and conventional home loan financingPhoenix Arizona home loans including FHA loans, VA mortgages and conventional home loan financingPhoenix Arizona home loans including FHA loans, VA mortgages and conventional home loan financingPhoenix Arizona home loans including FHA loans, VA mortgages and conventional home loan financingPhoenix Arizona home loans including FHA loans, VA mortgages and conventional home loan financing   
 

Home Loan Dictionary

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Joint and Several - Agreement to be liable together as well as separately. 

Joint Liability - Each party agrees to be equally liable for an obligation.

Joint Tenancy -  Joint ownership by two or more persons giving each person equal interest and equal rights in the property, including the right of survivorship.

Joint Venture -  An association between two or more parties, usually to own and/or develop real estate, formed for a specific purpose and duration.  It may take a variety of legal forms.  

Joist - Horizontal boards that support a floor or ceiling.

Judgment -  Final determination by a court of the rights and claims of the parties to an action.

Judicial Foreclosure -  A type of foreclosure proceeding used in some states that is handled as a civil lawsuit and conducted entirely under the auspices of a court.  Also called “foreclosure by action and sale”

Junior Lien -  A loan secured by a mortgage that does not stand in a first lien position.  Also called “junior (or second or third) mortgage.”

Junior Lienholder -  An individual or entity owning a junior lien.     

   

Phoenix Arizona FHA home loans, VA home loan and mortgages / real estate loansPhoenix Arizona FHA home loans, VA home loan and mortgages / real estate loansPhoenix Arizona FHA home loans, VA home loan and mortgages / real estate loans

 

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11024 N. 28th Dr., Ste 200, Phoenix, AZ 85029 (602) 993-0000
Sun Nations Mortgage, Inc. is a licensed Arizona lender (MB#13507) and HUD approved lender.