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Houston Mortgage > Glossary >
Credit Repair > J 1-10
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Jingle mail
Some homeowners who they fall behind in mortgage payments don't resist foreclosure and don't wait to be evicted. Instead, they move out, drop the house keys into an envelope and mail it to the servicer. This is known as "jingle mail." Maybe some jingle mailers believe they're preventing foreclosure, but they're not. The lender goes ahead and forecloses on the property, and it goes on the borrower's credit record as a foreclosure.
Joint account
A bank account owned by two or more persons who share equally in the rights and liabilities of the account.
Joint credit
Issued to a couple based on both of their assets, incomes and credit reports. It generally results in a higher credit limit, but makes both parties responsible for repaying the debt.
Joint Petition
One bankruptcy petition filed by a husband and wife together.
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