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Mortgage-Glossary

Mortgage Glossary

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TermDefinition
Joint Liability Liability shared among two or more people, each of whom is liable for the full debt
Joint Tenancy The ownership of a property by two or more personas with the survivor taking the share of the deceased
Jumbo Loan A mortgage larger than the limits set by the Federal National Mortgage Association Fannie Mae, FNMA) and the Federal Home Loan Mortgage Corporation (Freddie Mac FHLMC).

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