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Houston Mortgage > Glossary >
Home Equity > J 1-10
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Joint credit
Issued to a couple based on both of their assets, incomes and credit reports. It generally results in a higher credit limit, but makes both parties responsible for repaying the debt.
Joint liability
The responsibility of two or more people to repay a debt.
Joint Petition
One bankruptcy petition filed by a husband and wife together.
Judicial foreclosure
A court judgment ordering that a property be sold to repay a debt.
Junior mortgage
A home loan than is subordinate to the primary loan, or first mortgage.
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