Does HUD owe you a refund?

If you had an FHA-insured mortgage after September 1, 1983 and meet certain qualifications (including no refinance), then possibly!

Here are the eligibility requirements from their website:

Who may be eligible for an FHA refund or share?

Premium Refund: You may be eligible for a refund of a portion of the insurance premium if you:

–               acquired your loan after September 1, 1983

–               paid an up-front mortgage insurance premium at closing and

–               did not default on your mortgage payments.

Review your settlement papers or check with your mortgage company to determine if you paid an up-front premium.

Distributive Share: You may be eligible for a share of any excess earnings from the Mutual Mortgage Insurance Fund if you:

–               originated your loan before September 1, 1983

–               paid on your loan for more than seven years and

–               had your FHA insurance terminated before November 5, 1990.

Now, there are many things that could disqualify you, such as if your mortgage had been assumed by a new buyer, you refinanced that FHA loan because the new mortgage would have included that credit, if a claim had been made by your mortgage company against the FHA insurance, and if your shares remained unclaimed for over six years from the date of the notification sent to your last known address.

How much of a refund you may be due would be determined by the FHA Commissioner.

To see if you are owed a refund from HUD, search the database. You only need your last name, and then it is broken out by state.

If you are owed money, then go through the steps laid out on the site, and please let me know. I am curious to see how many people may have found money owed to them by HUD!