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jack plane
A woodworker's tool designed
for shaving off small amounts of wood. The workhorse
of the plane family, a jack plane is a good length
for truing up boards, fitting doors, and similar
tasks. |
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. |
jamb
A surface that lines an opening
for a door. |
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. |
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joist
Part of the framing that
provides the structure for a floor. In most homes,
floor joists are made of 2-by-8s or larger lumber
set on edge and spaced 16 inches apart, from center
to center. |
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 loan
Loans that exceed the
conforming limits for mortgage loans. In 2003 the
conforming limit was set at $322,700 for first-time
mortgages on single-family homes in the continental
United States, and at $484,050 for those loans in
Alaska and Hawaii. Fannie Mae and Freddie Mac update
the conforming limits on an annual basis. |
junior mortgage
A loan that is subordinate to
the primary loan. |
