Uncle Sam May Owe You Money

There are two main types of refunds

The first is a HUD refund. If someone has contacted you about a government refund, and they won't release the information, you can bet it is a HUD refund.

If you have ever purchased a home under any of the HUD programs, you may be due a refund. Even if you never owned a home before, you could be an heir to one. If your parents never knew about it, it is likely that you may never thought of it.

This refund is the result on part of your insurance premium (known as PMI.- Private Mortgage Insurance). Your mortgage premium included this "pre-paid" insurance premium. This premium is required on your mortgage in the event that you default on your loan. It's in the fine print.

Most people applying for first-time homeownership programs will not qualify without the HUD program. With HUD, homeowners can purchase homes for as little as 3-5 percent down payment, while conventional financing requires 10-20 percent.

Lenders want security for their money invested. Thus, the mortgage insurance is assurance that your mortgage payments will be paid.

Banks and lenders are not in the business to foreclose on people, they want the payment and interest. If you were to default on your loan, the mortgage insurance premium would cover the lender's investment, while HUD takes possession of the property for resale.

Because these refunds are pre-paid, and as with any pre-paid premiums, there can be a refund if the policy is not carried through. In most cases, if you sold your HUD home seven years or sooner (it can vary), you may be due a refund.

The Department Housing and Urban Development ( a branch of the Federal Housing Administration ) will send the homeowner notifications about the refund. In most cases, homeowners will overlook and discard the notice. Consequently, the refund is unclaimed. A common human problem.

The US government owes thousands of Americans billions of dollars. These money are being reserved as "unclaimed funds" by each state. They are unclaimed because the rightful owner may not know about it, deceased, or don't care. If only these "don't care" people know that the average refund is $2500.

Find out if there is an unclaimed HUD refund. The department has a website for you to check right now! HUD Refunds

If your name is on it, call this number TOLL FREE (800) 697-6967. If you wish to get a complete listing, write to:

This is the same list used by thousands of refund tracers. They make money off of what you don't know.

Beware of people (known as "tracers") offering to help you collect your refund for a fee. You do not need to hire someone to collect your money. You can obtain your refund directly from HUD for free. If you feel that you've been misled or in some way harmed by a tracer; or you've been contacted by someone asking you to become a tracer, who you believe misled or harmed you, Let us know. We'll check it out. The Department has stepped up efforts to locate homeowners owed FHA premium refunds. HUD awarded Walker and Company LLP a contract to assist the FHA in finding homeowners who are owed money. The new contract will save many of the homeowners the unnecessary expense of obtaining their refund through a tracer.

Speaking of the public. Refund tracers may notify you of a refund, and charge up to 80 percent of your refund. The newest breed of refund tracers will sell you some information "how to" booklets. Save your money.

The Second Type of Refund

The second type of refund makes up the largest percentage of what is collecting dust in Uncle Sam's dusty treasure chest.

The second refund differs from HUD in that it could be the result of abandoned bank accounts, interest, stocks, bonds, investments, lawsuits, or even estate settlement. Perhaps you have a long lost RICH uncle, aunt, grandparents, or other family members that you never knew about.

All Listings Of unclaimed assets other than the HUD mortgage refunds are also available through your State Department of Commerce. Ask for the unclaimed refund list. This list is FREE to the public. Anyone can use it to make money off of you.