mortgage

What is jingle mail?

 

What is jingle mail?

The Bankrate.com financial term of the day is: "Jingle Mail"

Hear the term "jingle mail," and you might think of Christmas. However, jingle mail isn't very merry. It refers to house keys mailed to a lender by a homeowner who has fallen behind on mortgage payments and is facing foreclosure. The person moves out and drops the jingling keys in the mail, somehow thinking that's the best way to deal with things. But the lender still forecloses on the property, and the borrower's credit report takes a hit.

Jingle mail, jingle mail -- jingle all the way to terrible credit score.

To find a great rate on a home loan, visit the Mortgages section at Bankrate.com.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CAR & MONEY NEWSLETTER

Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.

advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Diesel car sales grow

While gas prices have dropped dramatically, the sales of diesel cars has continued to grow, rising 13.5 percent in 2014 over 2013, according to the latest data compiled by IHS Automotive for the Diesel Technology Forum.  ... Read more


Connect with us