Liana Griffin

ELITE TEXAS PROPERTIES

33018 Tamina Rd.
Magnolia, TX 77354


Cell: 281-796-2424   
Phone: 281-796-2424 
Fax: 877-796-2424

Housing Trends

September 2017

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Take a look at our real estate glossary to learn definitions of common words and phrases used in the industry.

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Real Estate Glossary

Use the real estate glossary to learn definitions of common words and phrases used in the industry.

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 $300,700.

Junior mortgage

A loan that subordinate to the primary loan.