Earn Income Processing HUD/FHA Refunds
Updated: June 5, 2023 by Steve Clark
A new contact letter created by artificial intelligence has been added to the program. The contact letter is used after a client has been located.
The state lists of unclaimed cases were updated on 4-01-23.
In May 2022 HUD has restructured the content contained on the lists making them much easier to understand. You can access these state lists for free from HUD by clicking here.
Introduction - Earn Income Processing HUD/FHA Refunds
The Federal Housing Administration (part of the U.S. Department of Housing and Urban Development) works with several lenders nationwide in assisting potential home buyers in getting loan approval. Through an agreement with these lenders HUD/FHA will step in and make the required monthly mortgage payments if the people are unable to. This in turn enables the individual to get loan approval and to purchase the home with much less down. This has helped millions of people buy homes who otherwise would never have been able to qualify.
In order for HUD/FHA to assist these people they must pay into an insurance policy on that loan. There are two insurance policies used with this program: the One Time Mortgage Insurance Premium (MIP) which requires one payment to be made upfront at the time the mortgage is acquired, and the Mutual Mortgage Insurance policy (MMI) which is paid during the life of the loan.
These people were told that if they paid back the loan without defaulting on any mortgage payments, either by selling the home, making the required payments, or by refinancing the home, they would be entitled to a refund on the amount that was paid into the insurance policy.
HUD/FHA even sends them a letter but if they do not make an attempt to collect the refund for a period of two years, the refund is then deposited into an unclaimed account. The result is that there are currently thousands of unclaimed cases resulting in millions of unclaimed dollars.
In 1986, HUD/FHA established an effective way of getting this money back to the people. They decided to publish state lists of these unclaimed refund cases and allow anyone who is interested to assist in getting these unclaimed refunds to the people they are owed to. You are allowed to contact these people, let them know they have an unclaimed refund, provide them with a Found Case form, then collect a generous processing fee for the assistance you provide. The processing fee you collect can be as much as 20% of the amount of the refund.
The HUD/FHA Refund Processor Kit provides detailed training information with proven methods for successfully processing these unclaimed refunds and can be purchased here.
Below is a video introduction on how to earn income with unclaimed HUD/FHA refunds.
Frequently Asked Questions
Please feel free to review the list of Frequently Asked Questions. This should help answer any questions you may have about this program.
You can visit the Frequently Asked Questions page by clicking here
HUD/FHA offers state lists of unclaimed cases that are updated on a monthly basis. The following link will take you to HUD/FHA's portal where you can download these lists free of charge: Mortgage Insurance List Selection Page. Prior to 2012, people interested in processing HUD/FHA refunds were required to purchase mortgage insurance lists but these are now available without cost. For precise instructions on how to use the mortgage insurance lists click here.
Posted: May 11, 2020 by Steve Clark
Did you know you could have unclaimed money being held by the state? One in five people do and you can search for your name right now. If you have unclaimed money, claim it and receive a check in the mail. Links to all state unclaimed property databases including instructions and tips for getting the most out of your searches are located here.
Posted: March 13, 2020 by Steve Clark
A noteworthy discovery was made while testing and comparing two people search services, https://www.peoplesearchnow.com and https://www.fastpeoplesearch.com. It was revealed that at times an apartment number was not always provided with one of the search services but was provided with the other. With this understanding, it is perhaps a good idea to use more than one people search service in order to ensure that you can more accurately pinpoint the location of the unclaimed HUD/FHA refund recipient you are looking for.
Posted: November 15, 2019 by Steve Clark
For locating people due a HUD/FHA mortgage insurance refund, I feel confident recommending https://www.peoplesearchnow.com. There are other free people search services that I have tested with very good results (links listed further down) so this should not be the only one to rely on, however, for me I would probably use this one first when looking for HUD/FHA refund recipients.
Posted: June 20, 2019 by Steve Clark
This quick test of FastPeopleSearch.com was conducted to locate a refund recipient. The refund recipient has a connection to Clermont, Florida. Now, after a search for the payee's name is executed, it appears very likely that the refund recipient now resides in Sunrise, Florida. The full address for this person in Sunrise, Florida is also provided at FastPeopleSearch.com.
You can watch the video which shows the above-mentioned test of FastPeopleSearch.com by clicking the link below.
If you would like to see a list of the top free people finder websites that you can use, please visit the Frequently Asked Questions page by clicking here
Posted: June 1, 2018 by Steve Clark
A video tutorial has been produced to demonstrate how to find unclaimed HUD-FHA refund payees. The examples shown on the video tutorial are actual cases where a payee is listed as having an unclaimed refund.
Note: Payee, refund recipient, and client are terms used to describe those who are entitled to an unclaimed refund. This is intended to clear up any possible confusion.