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- Jumbo Loan
A loan which is larger (more than $240,000 as of 1/1/99) than the limits set by the
Federal National Mortgage Association and the Federal Home Loan Mortgage Co Because jumbo
loans cannot be funded by these agencies, they usually carry a higher interest rate.
- Judgment
A decision made by a court of law. In judgments that require the repayment of a debt, the
court may place a lien against the debtor's real property as collateral for the judgment's
creditor.
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