Jingle Mail

There was a GREAT article in The Washington Post (rare, but it happens) about a local couple who owed roughly $800,000 on their home purchased in 2005. During this past summer, the builder was offering the EXACT same model home, with a finished basement and on a better lot, BRAND NEW, for only $499,000.......While continuing to make payments on the home purchased in 2005, they put a contract on one of the new homes at $499k, closed, then mailed their keys back to their lender stating the obvious:

"For $300,000, you can have the house and my good credit!!!"

I say good for them......this was also the first time I heard the phrase "jingle mail", when homeowners simply mail back their keys.....