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I was doing some research on the HARP program and other mortgage plans that have been introduced and I stumbled onto a message board for people that are purposely walking away from their mortgages and mailing the keys to the lender, thus Jingle Mail.

Researching (sometimes called surfing) I found more on “Planned Foreclosures” in other parts of the country that have been affected the most by the housing markets.  I have to say, the argument is a good one, albeit one with many repercussions, mostly negative.

Without a doubt, this affects not just that homeowner, it affects the entire neighborhood. I’m sure most would agree that our lives have been affected by this; bad mortgages, overzealous lenders and fictional applications for homes. On the other hand, it is impossible to have 10% – 12% appreciation annually on a home, so something had to give.

We’re in the midst of pulling out of the worst of this, thankfully Park Ridge hasn’t been hit as hard as other parts of the country.