Did you buy a home after Sept. 1, 1983 with an FHA loan. If yes, more than likely, you were required to purchase upfront mortgage insurance. This rather large amount would have been added in as a closing cost on your loan.
FHA was supposed to refund at least a portion of that insurance back to you if you made all of your payments and paid off your mortgage before a certain time. The Department of Housing and Urban Development (HUD) says that approximately 30 percent of those refunds never get claimed. Click here to access HUD’s list.
Over $400 million is waiting to be claimed.
Much of this money has been sitting there for years because borrowers do not know they may be entitled to a refund. If a refund is owed to you, it could be under a hundred dollars or it could be thousands of dollars.
Click here to access HUD’s list. Then search for your name. The property address shown in the list would be the property owned at that time. In all likelihood, this would NOT be your current address. Fact is, most people are owed a refund because that home was sold. But others are owed a refund because the property was refinanced. See if you’re on the list. Check for your family and friends too.
Good luck.
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