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Coakley and Kenner:Guidance for homeowners: Modifying your mortgage - Milford Daily News
Massachusetts continues to experience a dramatic surge in foreclosures, often due to deceitful and predatory lending practices. Many foreclosures have resulted from loan practices and products that were destined to fail because lenders failed to ...

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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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