| Unclaimed HUD refunds are owed thousands
of former homeowners with FHA insured mortgages. Each year the
Federal Housing Administration (FHA), the government
agency which insures mortgages made by local lenders,
estimates the number of defaults it will likely
experience. Based on this prediction, it sets the
insurance premium home buyers pay during the year. If
fewer defaults occur than predicted, borrowers share
in the funds remaining via HUD Mortgage Insurance
Premium (MIP) Refunds or Distributive Shares.
Because
many homeowners fail to notify HUD of a new address
after a move, tens of thousands of homeowners are
entitled to unclaimed HUD refunds worth hundreds of
millions of dollars.
Refunds
average $800 - $1500 per homeowner. These amounts are
not listed in state unclaimed property databases as
they are issued by HUD, an agency of the U.S. federal
government.
For a
search of the HUD unclaimed refund database online
and to obtain claims information on a HUD refund
order our Special Report: HUD Refund
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