(J)

• Jalousie window   A window that consists of vertical rows of horizontal glass slats that operate together by a crank mechanism that connects all the slats.
• Joint liability   The responsibility of two or more people to fulfill the terms of a home loan or debt.
• Joint tenancy   Ownership by two or more people that gives equal shares of a piece of property. Rights pass to the surviving owner or owners.
• Joist   A floor or ceiling support member supported by foundation walls, piers or beams. Subflooring is connected to floor joists.
• Judgment   The decision of a court or law. If a court decides that a person must repay a debt, a lien may be placed against that person's property.
• Judicial foreclosure   A procedure to handle foreclosure proceedings as civil matters.
• Jumbo mortgage   Loans that exceed limits set by Fannie Mae and Freddie Mac. The current limit is $214,600.
• Junior mortgage   A loan that subordinate to the primary loan.

(K)

• Kit home   A structure that contains prefabricated components and is put together by a contractor.
• Knee wall   A wall-like structure that supports roof rafters.
• Knob-and-tube wiring   An old-fashioned wiring system that has been replaced by fuses and circuit breakers.

Prepared by:   Re/Max Home & Ranch - 303-646-9000