jingle mail

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jingle mail (uncountable)

  1. (neologism) The practice of posting one's house keys back to the mortgage company because of negative equity or inability to pay mortgage investments.
    • 2007, U.S. News and World Report:
      "There's going to be a lot of jingle mail this winter," Barnes says of owners who will simply pop their house keys in the mail in lieu of a mortgage check.
    • 2008, OECD Economic Surveys: United States 2008:
      However, all four states have had the most overheated mortgage markets and reportedly the highest incidence of jingle mail.
    • 2008, The Economist:
      Nouriel Roubini, one of Wall Street's most pessimistic seers, worries that the "forthcoming jingle-mail tsunami" could spawn $1 trillion-2 trillion of financial losses, creating a systemic banking crisis.
    • 2009, Paul Stemborowski, How to Modify Your Loans: And Save Thousands of Dollars by Doing It:
      However, with all the jingle mail going on, there is a good chance you can sway the mortgage company with the correct psychology.