What is Jingle Mail?
As a Board Certified Consumer Bankruptcy Attorney, I am seeing bankruptcy clients each and every day who are surrendering their homes in the bankruptcy process. Some individuals are choosing not to file bankruptcy and are deciding to leave their homes. Right now, Southwest Florida is experiencing one of the highest foreclosure rates in the country. People are literally walking away from their homes each and every day. Port Charlotte, Cape Coral and Lehigh are experiencing higher rates of foreclosure than other areas of Florida. Each day I speak with the people who are suffering through this problem, and they all tell me the same thing. I am going to mail the keys to my mortgage company or servicer.
Jingle mail is a new term used to describe the process utilized by a distressed homeowner to return the keys to the mortgage company or its representative. Many secured creditors in bankruptcy want their collateral back. Usually, a debtor can drop off the merchandise or have it picked up. Unlike a car that can be returned to the dealership or furniture that can be returned to the distributor, a house cannot be returned to the owner. Theoretically, the home is being returned but, ownership will not pass until the title passes. Jingle mail gives a clear intention to the mortgage company of what the distressed homeowners intentions are.
If you have specific questions about bankruptcy please visit our website at: http://www.dellutrilawgroup.com/bank/faq.htm
This post was written by Carmen Dellutri, Esq. of The Dellutri Law Group, P.A. Mr. Dellutri is the founder of The Dellutri Law Group, P.A., and he is also one of the founding members of the Bankruptcy Law Network, Debt Law Network, Credit Law Network, and the Mortgage Law Network.
