jingle mail

English

Noun

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.