Comments on: Chairman Dodd on “jingle mail” http://www.starkreports.com/2010/02/24/chairman-dodd-on-jingle-mail/ Unscripted, unvarnished and unedited Fri, 03 Jun 2011 03:52:48 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: Alejandro http://www.starkreports.com/2010/02/24/chairman-dodd-on-jingle-mail/comment-page-1/#comment-946 Alejandro Fri, 26 Feb 2010 00:37:12 +0000 http://www.starkreports.com/?p=391#comment-946 Why even mail the keys back? Just stop paying and live in the house for free. Let the bank (or the sheriff) come and pick up the keys from you. Why even mail the keys back? Just stop paying and live in the house for free. Let the bank (or the sheriff) come and pick up the keys from you.

]]> By: Dr. Kenneth Noisewater http://www.starkreports.com/2010/02/24/chairman-dodd-on-jingle-mail/comment-page-1/#comment-944 Dr. Kenneth Noisewater Thu, 25 Feb 2010 20:13:43 +0000 http://www.starkreports.com/?p=391#comment-944 ABSOLUTELY have to have competent legal and financial advice before going this route. IIRC (and IA most definitely NAL) this would only make sense if you have a non-recourse mortgage and no 'second' or HELOC outstanding. From what I understand, some states have non-recourse firsts by law (if and only if it's your primary residence?) and I don't think ANY states have non-recourse seconds or HELOCs. Additionally, if you refinanced your loan, you may have gotten a recourse loan. Again, lots and lots of variables, and investing a few bucks on the aformentioned competent legal and financial advise would be money well spent. That said, if you _can_ mail your keys back, I think you _should_, if only to luxuriate in the warm glow of spite. ABSOLUTELY have to have competent legal and financial advice before going this route. IIRC (and IA most definitely NAL) this would only make sense if you have a non-recourse mortgage and no ‘second’ or HELOC outstanding. From what I understand, some states have non-recourse firsts by law (if and only if it’s your primary residence?) and I don’t think ANY states have non-recourse seconds or HELOCs. Additionally, if you refinanced your loan, you may have gotten a recourse loan.

Again, lots and lots of variables, and investing a few bucks on the aformentioned competent legal and financial advise would be money well spent.

That said, if you _can_ mail your keys back, I think you _should_, if only to luxuriate in the warm glow of spite.

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