HUD/FHA 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 cannot. 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. One of these policies is the One Time Mortgage Insurance Premium (OTMIP). This policy requires one payment to be made upfront at the time the mortgage is acquired.
The other policy is the Mutual Mortgage Insurance policy (MMI). This policy 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 listings 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 that is due them, provide them with a Found Case form, and then collect a processing fee for your efforts. The processing fee you collect can be as much as 20% of the amount of the refund.
You will see that we have provided the training information. This training information will show you how to make contact with your clients and how to get paid for your services.
The highlighted area represents an unclaimed refund case.
The first ten digits on the left is the case number for that particular refund. The case number starts with three numbers then a dash followed by six more numbers. In this example the case number is 548-334646. The following numbers represent the amount of the refund. For example 01780.7800000.00 would mean that the amount of that refund is $1780.78. Following the dollar amount of the refund is the date when the refund became available. In this example the date is 06/05/1999. You will see additional dates listed following the first date but these dates are not relevant to processing the refund. Following the last date, you will see the address, city, state, and zip code of where the HUD/FHA insured mortgage was paid off. In this example the address is 2300 Farrington Ave. Alexandria, Virginia 22303. Finally you will see the name of the refund recipient in a last name, then first name format. Sometimes an additional address is listed after the name of the refund recipient but it is not relevant to processing the refund, it is usually an address where the refund recipient resided prior to the address of their HUD/FHA insured mortgage.
This information is only needed for the Found Case form which is filled out and sent to the refund recipient after you locate them.
The ''Found Case'' form is the form you will provide to your clients when you locate them, and is very basic. The first part is your information. The second part is the updated address information of the person who is due the unclaimed refund. The third part is the property address where this HUD/FHA insured mortgage was paid off. The areas titled ''Date Acquired'' - ''Date Property Sold if Applicable'' - ''Date Mortgage Was Paid Off'', are for your client to fill in.
The following is the Found Case form. Once the Found Case form is completed it is sent to HUD/FHA. This will start the process of issuing a refund to your client. Later on you will be shown at what point this form is needed and how it is used.
Distributive Share -- Mortgage Insurance Premium Refund
FHA Case Number |__|__|__|--|__|__|__|__|__|__| Important. Do not omit.
Name
________________________________________
_____________________________________________
Address
_______________________________________
___________________________________________
Telephone Number
|__|__|__|--|__|__|__|--|__|__|__|__|
(Include Area Code)
FHA PROPERTY ADDRESS / INFORMATION:
Street
________________________________
Apt No.______
City ________________________________ State ________________________ Zip Code _____________
Date Title Acquired __________ Date Property
Sold, If
Applicable __________ Date Mortgage Was Paid
Off
__________
The Department of Housing and Urban Development is not a party to any financial agreement between the Tracer and the claimant.
Mortgagor(s): I/We, hereby certify that I/We never received a distributive share or premium refund from HUD in connection with this FHA insured mortgage. I/We consent to the above Tracer submitting this form on our behalf.
Signature(s) of Mortgagor(s)
___________________________________________ DATE __________
Forward Your Found Cases To: Department of Housing and Urban Development Distributive Shares Branch P.O. Box 23699 Washington D.C. 20026-3699
HUD/FHA will allow you to check on the payment status of a client's refund during this process, if your client signs a ''waives all rights to privacy'' release authorizing this. This is found on the contract that is included with this information. If you choose to check on the payment status of a client's refund, submit your request in writing to HUD/FHA, and accompany that with a copy of your client's privacy rights release. Be sure to wait at least 120 days before contacting HUD/FHA regarding the payment status of a refund.
You can also conduct an instant search to check on the payment status of a refund for a specific case, by using the national HUD/FHA refunds search database found
here.
Next, we will cover the ways to ''trace'' the people you are looking for. The internet is probably the best first approach to use for most people unless you live in a large metropolitan area where a standard phonebook can also be a great asset.
You can access a vast amount of online people-locating resources by using the ProSearch Investigations System directory found here.
Often-times the people that sell their HUD/FHA insured homes do not move far afterward, which makes using online public records database resources quite effective.
With many of these online resources you are allowed to search through records for free by simply entering a name into the search field, whereupon you can locate their current address. In cases where a database does not have a search by name option, in most cases you will still be able to search by property address. With this approach you can check to see if the person is still residing at the address shown on the state listing.
The following are some Property Appraiser websites for major metropolitan areas that allow you to search records. These databases are designed to provide the current appraised value of property within a specific county, however, as is the case with many other types of search by name public record databases, they can also be a great way to locate people.
Maricopa County (Phoenix Area)
California
Los Angeles County (Los Angeles area)
Colorado
Denver City and County (Search by address, owner or parcel number)
Florida
Broward County (Fort Lauderdale area)
Miami-Dade County (Miami area)
Palm Beach County (West Palm Beach area)
Hillsborough County (Tampa area)
Pinellas County (St. Petersburg area)
Duval County (Jacksonville area)
Georgia
Indiana
Marion County (Indianapolis area)
Missouri
St. Louis County (St. Louis area)
Nevada
North Carolina
Mecklenburg County (Charlotte area)
New Jersey
New York
Ohio
Cuyahoga County (Cleveland area)
Hamilton County (Cincinnati area)
Franklin County (Columbus area)
Oregon
Multnomah County (Portland area)
Tennessee
Davidson County (Nashville area)
Texas
Bexar County (San Antonio area)
Denton County (Fort Worth area)
Sometimes you will find the refund recipient still residing at the address located on the list. This usually means they have refinanced their home.
If at anytime during the course of your tracing you feel that you have found the person you are looking for, you will want to send them an introductory/notification letter along with a contract (contract example included with this information). keep in mind that if you feel you have located the refund recipient, and can locate a phone number for them, you can call them before sending the introductory/notification letter and contract to them. This will allow you to accomplish two things: 1) You can be certain you have found the refund recipient 2) You can learn whether or not they may be in the process of collecting their refund.
If you do this, you will want to introduce yourself as an independent Unclaimed Money Processor or an independent Refund Processor, and inform them that you are looking to contact (refund recipient's name) in order to help them recover a sum of unclaimed money in the amount of (amount shown on the list). If you are able to confirm that you have located the refund recipient and that they are unaware of being entitled to a sum of unclaimed money, just let them know that you will send them the information regarding the unclaimed money (the introductory/notification letter and contract). If they ask what the reason for this unclaimed money is, let them know that you cannot disclose the reason for the refund without the having the proper documents returned to you.
>
Dear (refund recipient's name), My name is (your name), and I'm an Independent Unclaimed Money (Tracer or Processor, which ever you prefer). I try to find people who have unclaimed refunds and reunite them with it. The U.S. Government branch holding these unclaimed refunds attempts to contact these people for two years, then places them on state lists that are made available to independent Tracers, if they were unsuccessful. My information shows a (refund recipient's name) who owns or once owned a property located at (property address shown on the list), as having an unclaimed refund. The amount of the refund is $(amount shown on list). This refund is not earning interest. My only wish is to be compensated for what is known as a ''processing fee'' if my work leads to the successful collection of this refund. This fee is $(amount you will charge) and is only to be paid after you receive your refund. This fee is very reasonable considering the amount of time it requires to provide this service. If you are mentioned here, and you would like me to immediately disclose to you the reason for this refund, then just complete the enclosed contract/agreement stating that I have located the correct person(s), and that you will pay me for my services after you receive your refund check. I have provided a return envelope for your convenience. The blank spaces on the contract/agreement indicate where your current address or signature is to be placed. After I receive the completed agreement, I will inform you of who is holding this money in the form of a letter. You will receive this letter along with a Found Case form, within five
(5) business days after I receive the completed contract/agreement. Completing the Found Case form and sending it to the government branch holding this refund will start the process of collecting it. I hope my work has lead me to the rightful owner of this refund.
The following is the introductory/notification letter. You will want to send this letter to the refund recipient once you are certain of their whereabouts, or at least reasonably certain.
Printable Introductory/Notification Letter
With the contact information you provide, you may want to also include your e-mail address as well in the even that your client has internet access.
Also included with this training information you will find the Power of Attorney form. The Power of Attorney form will allow the refund check to be sent to your address if your client agrees and signs it. You might decide not to use this document because some people may be hesitant about having their refund check being sent to an address other than their own.
If you wish to use this document, you can send it to the refund recipient along with the follow-up letter and Tracer Found Case form.
Once you have received the completed contract back from a client, send a ''follow-up'' letter to them explaining what their refund is for, and a ''Found Case'' form. Fill in the spaces on the Found Case form that pertain to you, as well as the HUD/FHA case #, and the address near the bottom of the form where their HUD/FHA insured mortgage was paid off (this is the address that you will see on the state list) The area at the very bottom of the Found Case form that reads ''Date Title Acquired'', ''Date Property Sold If Applicable'', ''Date Motgage Was Paid Off'', can be found out by your client by contacting the lender of that mortgage. They can mail the Found Case form to HUD/FHA, or you can do it for them once they have completed it. You may wish to have the refund recipient send the Tracer Found Case form back to you once they have completed it. This way you will know exactly when the form was sent to HUD/FHA.
Remember that you may copy or reduplicate any of the forms contained in this program.
Dear (recipient's name),
I have received the completed contract/agreement including the necessary signature(s) desiring to have the reason for this unclaimed money made known to you, and stating you will pay the required $(amount you are charging) Processing Fee within five (5) days after you receive your $________ unclaimed government check.
This refund check that is due you is a result of the HUD/FHA Mortgage Insurance Program. Refunds are due back to people on insurance policies that they paid to HUD/FHA while they were being issued a mortgage, if they meet the requirements.
The Department of Housing and Urban Development (HUD/FHA) will issue a refund check for the money that was paid into these insurance policies to the people who did not default on any mortgage payments during the life of the loan. An attempt is made by HUD to contact the refund recipient(s) regarding their unclaimed refund for two (2) years.
Included with this letter is the Tracer Found Case form. The first part of the Tracer Found Case form is my information, the second part is your updated information, the third part is the information regarding the property where this HUD insured mortgage was paid off. The areas on the Tracer Found Case form labeled ''Date Title Acquired'', ''Date Property Sold If Applicable'' and ''Date Mortgage Was Paid Off'' can be found out by contacting your lender of that mortgage. If you don't remember who the lender was, HUD can tell you.
About two (2) weeks after the completed Tracer Found Case form is sent in, you will receive a form from HUD/FHA called a ''Notice of Distributive Shares or Premium Refund''. HUD will need proof that you either own or once owned the property and you will need to send them a copy of your proof of ownership for that home (such as a mortgage note paid in full, deed of trust, etc.) along with the completed ''Notice of Distributive Shares or Premium Refund'' form, back to HUD.
Approximately 90 to 120 days after you send in your completed ''Notice of Distributive Shares or Premium Refund'' form with a copy of proof of ownership, you will receive your refund check. A good idea is to ask for a copy of the proof of ownership document from that lender while you are obtaining the ''Date Title Acquired'', ''Date Property Sold If Applicable'' and ''Date Mortgage Was Paid Off'' information for the Tracer Found Case form.
In cases where two (2) people are shown as refund recipients, both signatures will be required at all times. The only exceptions are as follows: When one recipient had exclusive rights to the property at the time it was sold. If this is the case, then the proper court documents also need to be sent in along with the ''Notice of Distributive Shares or Premium Refund'' form. And, if one of the recipients is deceased, a copy of the death certificate will also have to be sent to HUD along with the ''Notice of Distributive Shares or Premium Refund'' form.
Department of Housing and Urban Development
Distributive Shares Branch
P. O. Box 23699
Washington D.C. 20026-3699
Phone: (202) 708-1112
Even though the rest of this process involves yourself, HUD and the lender of that mortgage, please feel free to contact me if you have any questions.
It has been my privilege to have been able to help you regarding this matter.
Sincerely,
(your name and contact information)
By law we not allowed to offer legal advice. We urge you to consult an attorney regarding the use of a contract in this business.
This contract is made this day of
____________________,20___
BY AND BETWEEN:
(Name or Names), (Recipient's Address, City, State, Zip) AND: (Your Name), With regard to the following recitals: WHEREAS, (Recipient's Name) may have a valid claim, for funds in the amount of $ (Amount of Refund) from the U.S. Government; and WHEREAS, (Recipient's Name) waives all rights of privacy and expressly authorizes (Your Name) to obtain payment information that has been approved and certified by the U.S. Government relative to this claim for $(Amount of Refund); and WHEREAS, (Recipient's Name) has not knowingly applied for the $(Amount of Refund) governmental claim at any other time or through any other individual or company; and WHEREAS, (Your Name) is in the business of locating and issuing the necessary documents to the U.S. Government for the payment of funds on behalf of a valid claimant; and WHEREAS, (Recipient's Name) is desirous of having (Your Name) process the necessary documents in (Recipient's Name) behalf for a fee.
(Your Address, City, State, Zip, Telephone Number)
Page 2 of 2
BY AND BETWEEN: (Recipient's Name)
AND: (Your Name)
1) I, (Recipient's Name), authorizes (Your Name) to act as his/her agent for a fee.
2) (Recipient's Name), certifies that he/she currently owns or retains title to, or has previously owned or retained title to:
3) (Recipient's Name) shall execute any and all documents necessary for (Your Name) to perform the service to obtain this check in the amount of $(Amount of Refund).
4) (Recipient's Name), shall pay to you (Your Name) a processing fee of (Percentage)% ($ Amount of Fee Charged) for the services provided, within 5 working days from the receipt of the $(Amount of Refund) government check.
5) (Recipient's Name), understands that the $(Amount of Refund) government check should arrive at his/her mailing address in the form of a check, direct from the government branch in possession of it, within 120 days of contact being made to the agency in possession of it, by the individual(s) entitled to this money.
6) Should suit be commenced or an attorney employed to enforce payment of the sum $(Amount of Refund), Processing Fee, pursuant this agreement (Recipient's Name) agrees to pay such additional sum as the court may adjudge reasonable as attorney's fees in said suit.
7) This agreement shall be governed by the laws of the state of (Your State/Province).
And: (Your Name)
You can use the Power of Attorney form by sending it to the refund recipient when you send them the Found Case form and the follow-up letter, once the signed contract has been returned to you. However, remember that the refund recipient might be reluctant to sign this document because it authorizes the refund check to be sent to an address other than their own.
If you were to use this document, you may wish to reword the introduction letter to read that after you receive the signed contract back from them, you will send them a Found Case form and a Power of Attorney form. Let them know that the Found Case form will start the process of collecting the refund, and the Power of Attorney form will allow you to recover the check on their behalf.
With the personal approach you will write the refund recipient's name and address on the envelope, as well as your own. You can use a printed label for the return address, but either way you will want to use your name, and not the name of your business.
This approach helps seperate your letter from ''junk mail'' that they may have received along with your letter.
You may also want to consider a more formal approach by corresponding with a refund recipient using manilla envelopes. Using manilla envelopes will help lend an important, priority look to your letter. If you have chosen a name for your business that contains the word refund, for example ''Prompt Refund Processing'', this will be an advantage when using this approach. Manilla envelopes with windows are fine as well.
Contacting relatives of this person with the hopes that they know their whereabouts is another approach to consider. If that person has a rather unique last name, this can be a great deal more practical. For example, finding the relatives of Greg Smith would be much more difficult than finding the relatives of Greg Gardener.
It is estimated that at least one out of every ten refund recipients still reside at the same address as shown on the list. In addition, if the house has been sold, then perhaps the people who now occupy the home know where they have moved to. With this in mind, you could send a brief contact letter to every address on the list.
If you decide to use this approach,
send this letter addressed to: ''(refund recipient's name) or Current Resident.''
The following is a contact letter that you can use if you would like to try this approach.
Dear Current Resident,
We are trying to locate (Name shown on the list)
who once lived at this address.
(Name shown on the list)
is shown as having a beneficiary claim in the amount of $(Amount shown on the list), and has been able to be redeemed since (Date shown on the list). This money is not earning interest.
My job is to locate individuals and assist them in the collection of these claims. If you are aware of the current address of this person, or any contact information regarding them, it would be greatly appreciated if you could forward this to me, or simply provide them with my contact information.
If by chance you are mentioned here, then simply contact me and I will promptly assist you in the collection of this claim.
Sincerely,
(Your contact information)
If a refund recipient responds to the letter, or you obtain their contact information, let them know that you will provide complete information regarding their unclaimed money once they have signed a payment contract/agreement. Then inform them of the payment arrangement you will be using for the assistance you are providing. Later on you will also learn about the ''up front'' payment option. You can use either the payment option mentioned previously (sending an introductory/notification letter and a contract), or the ''up front'' payment option that is illustrated later.
Writing letters to neighbors is another approach you might want to consider. You will want to send at least 5 to 8 letters. These letters will let them know that you are wanting to locate the person who used to live at the address because they are due a claim, and if they know where that person has moved to. These letters will request that they give you their new address information if they have it. You will provide your name, address and phone number so they can contact you if they have that information.
You can guess at 5 to 8 addresses that you think may be on that street, or look into using what is known as a ''Criss Cross Directory.'' These Criss Cross Directories are found at your local library, and can tell you the address across the street from the person you are looking for. You can also ask your local library about purchasing one as well.
The next letter is the letter you would send to 3 to 5 neighbors of a person you are trying to contact, if the first letter writing example was unsuccessful.
If you are trying to locate a person whose address on your refund case list is shown as 2314 Montgomery Ave., you may want to guess at possible addresses and send a letter to:
2312 Montgomery Ave.
2313 Montgomery Ave.
2315 Montgomery Ave.
2316 Montgomery Ave.
2317 Montgomery Ave.
Address the letters to: Current Resident
Here's an example of this letter:
Dear Current Resident,
We are trying to locate (person's name) who formerly lived at (property address).
(Person's name) is due a beneficiary claim. My job is to locate individuals and assist them in the collection of these claims. If you are aware of the current address of this person, or any contact information regarding them, it would be greatly appreciated if you could forward this to me, or simply provide them with my contact information.
Thank you very much for your help!
Sincerely,
(Your contact information)
In this approach you can use some of the same examples of tracing that were listed earlier to contact them, and you can call them if you feel that you have located their phone number.
If you are going to call them, first you should say:
''Hello, I'm (your name) I'm a processor in helping beneficiaries of unclaimed funds. My job is simply to locate you and to inform you of your unclaimed fund. This fund is rather small, in the amount of (Amount of Refund).''
If they ask: ''Who do you work for?'' ''Who died?'' ''Where is this money coming from?'' ''Did somebody pass away?''
Then you should say: ''(their name), I'm an independant processor for unclaimed funds. I cannot disclose over the phone the nature of the funds without having confirmed I.D.. The money has been available to you for over ( ) years''
Note: To find out how long the money has been available, just subtract todays date from the date on the tracer listing.
At this point they will say: ''Well what do I do now?'' ''Can we meet?'' ''When can I get my money?''
Then you need to say ''If you would lke me to disclose and process your claim you need to set up an appointment to come to my office. You will need to bring with you proper identification and a processing fee for me to process your your claim in the amount of $(amount you will charge)
If they say: ''Well okay, let's make an appointment.'' Then you'll need to set up an appointment that's good for the both of you. Make sure you give directions to your home or office. Never go to their home. Remember, you are the one who is doing them a favor.
If they say: ''I don't have the money to pay you'' You can simply tell them that that's fine, they can call you whenever they have the available funds. Act as if you could care less whether or not they do it today or next year.
If you don't care if they pay you up front and you don't mind them paying you after they receive their funds, you need to let them know that they can simply sign a contract stating they will pay you after they receive their funds.
If they say: ''I'm not interested.'' You should say: ''Sir/Ma'am, the money has been available to you for (# of years) years and it's not drawing any interest. The money is rightfully yours. Would you like me to leave my name and number, you can contact me at my home anytime?''
If they say: ''How do I know this is for real?'' You should say: ''Sir/Ma'am, as soon as you sign my contract, I immediately disclose all documentation and process your claim.''
If they say: ''I don't mind paying you but I'm not paying anyone until I get this money in my hands.''
You should say: ''That's fine but I want you to understand that even though we will sign a contract, if you do not pay me I will not waste anytime taking you to small claims court.''
If you are helping people who are far away, they will say: ''You live far away, is there any way we can do this by mail?''
You need to say: ''Yes, I can allow you to do this by mail. I will send you the contract. You will need to sign it and send it back with payment and a photo copy of your drivers license.''
Note: No matter how far away the people live always act as if it's no big deal for them to come down to your office to meet with you. Just don't be the one to suggest doing it through the mail, let them.
Another approach to talking to these people is to say: ''Hello I'm (your name), I'm an independant processor. I spend all day tracking down people who have money owed to them. You have exactly (amount of their refund) coming to you. I'm paid by you only if you choose to pay me for my services which include disclosing the documentation and processing the small amount of paperwork needed for the release of your funds''.
If they say: ''How do I know you're for real?''
You need to say: ''Sir/Ma'am, as soon as we met I will have you sign a contract protecting you and as soon as I'm paid I immediately disclose all documentation and process your claim.''
If they say: ''How long will it take to get my unclaimed funds?''
You need to say: ''It will take approximately 90 days from the day we get together.''
If they say: ''Why should I pay you?''
You should say: ''Sir/Ma'am you don't need to pay me anything, but the money that as been available for over ( ) years is not collecting interest. If you would like to pay me for my services you may or you can let the money stay where it's at for another ( ) years or longer before another processor contacts you''
Be very open minded to the understanding that all people are different. Be very honest and be yourself. When they come to your home or office, ask them to have a seat and offer them a glass of water or a cup of coffee. Take a few minutes to answer any questions and explain why they are there and why they are paying you for your services. Unless they get up and leave you have nothing to worry about.
1) Have them sign the contract.
Explain to them that they can call you later with that information and then you can send the TFC form to HUD/FHA, or you can give them the TFC form and they can send it to HUD/FHA when it is completed.
Explain to them that after two weeks from the date you send off their TFC form, they will receive the ''Notice of Distributive Shares or Premium Refund'' form. Just tell them to fill out the form and send it back to HUD/FHA. Also remember to let them know that they should call their lender and have their lender send them a copy of their mortgage paid in full note. They will need a copy of that document to send to HUD/FHA along with their completed ''Notice of Distributive Shares or Premium Refund'' form.
After that, your job is done. But you will still want to give them your business card or phone number again and tell them to call you if they have any problems.
2) Collect payment.
3) Show them the state tracer listing with their name on it.
4) Take out the Tracer Found Case form and fill it out. The spaces on the TFC form labeled ''Date Title Acquired'' ''Date Property Sold if applicable'' ''Date Mortgage was paid off'' can be found out by your client by contacting the lender of that mortgage.
(Your Name), and _________(Their Name or) __________________(Names)_________ I, (Your Name) agree to process all paper work that is necessary for the release $________ that is owed to ______________________. Upon payment of $________ I (Your Name), agree to immediately disclose information and the documents explaining the funds. I (Your Name), also agree to immediately process all paper work necessary for the release of the funds directly to _____________(Their Name)_________. The exact amount of the refund is
$________.
That's ______________________________ And /100
Dollars.
I understand that it may or may not take as long as 120 days to receive my United States Treasury Check. If for any reason (Your Name) does not follow through in processing the paper work necessary for the release of the funds, (Your Name) agrees to pay back all monies received immediately.
This Contract Is Made This ________ day of
_______________,20____ By And Between:
I ___________________, agree to pay (Your Name) for their services, providing that their services do indeed result in a payment to me in the amount stated above.
____________________________________
(signature)
Address:
_______________________________________
_______________________________________
_______________________________________
_______________________________________
_______________________________________
Notary Public
______________________________________________
Other Ways To Make The Program Work
1) In addition to the payment methods covered here, you may even consider experimenting with other payment methods that you have created on your own. Maybe you would like to charge a smaller processing fee for those who pay upfront as incentive to use that option. Perhaps you would like to collect a portion of the processing fee upfront and the remaining amount after the person has received their refund. It's your business therefore you are able to use your own creativity and resourcefulness to get the most out it.
2) Keep in mind that there is a good opportunity to process unclaimed cases in the $500 to $1,000 range as well, so you may wish to include these cases along with the larger unclaimed cases, to further increase your success.
3) You may also wish to keep records of the people you have contacted. When the unclaimed case lists are updated, new names/cases will be added and cases that have been forwarded to HUD/FHA for processing, or have completed procesing, will be removed. Keeping records of the people that have already contacted can streamline your efforts and help you work more efficiently.
Another approach to processing HUD/FHA Refunds is having the refund recipient come to you. This approach most often uses a website to advertise the service, whereupon a person can contact the processor to inquire about a refund.
The same basic procedures including the payment collection options that are used in the standard approach can also be applied here. To see an example of this approach, Click Here.
Even if you don't have any webpage building experience, you can still have your own webpage up in no time. Simply copy the webpage code located here, set up a free account at Tripod.com, Geocities.com or any webpage host provider of your choice, and then paste the code into the file you create.
Once you have done this, you will just have to add your name, e-mail address and the processing fee that you will be charging, to the webpage.
For information on submitting your website to search engines click here.
By using the information provided with this program, you now have the ability to have a successful home-based business. Remember that as with anything, the more effort you apply, the better your results will be.
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