Credit that is issued to two people based their credit reports and their combined assets and incomes.
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Terms starting with: J
Joint liability
When two or more people are responsible for repaying a single debt.
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Joint tenancy
When two people (typically spouses) both own an undivided interest in a property.
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Jointly
This refers to property or an object that is legally owned by multiple owners, and is held in more than one person’s name.
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Junior mortgage
A loan that is subsequent to the claims of the holder of a prior (senior) mortgage.
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