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Night Patrols For Flooded Homeowners - KCRG.comStory Updated: Nov 20, 2008 at 2:20 PM CST CEDAR RAPIDS - Angie Reinert and her family of six are finally home after the flood put four feet of water in their first floor. "And we still have stuff in other peoples garages, so hopefully this weekend ...
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Today's Mortgage Terms starting with J
Jumbo Loan: A mortgage over the $300,700 limit established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. A jumbo mortgage tend to carry a higher interest rate than a conventional mortgage.
Junior Mortgage: A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid down first.
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