If the FHA owed you hundreds – even thousands – of dollars, wouldn’t you want to know about it? The U.S. Department of Housing and Urban Development (HUD) oversees the FHA home loan process, which is one of the most common ways that Americans finance the cost of their home.
One of the requirements of FHA mortgage loans is mortgage insurance, which is paid up-front to the mortgage lender in exchange for providing the money to purchase a house. If you do not default (stop making payments) on your loan, you could qualify to get all or some of this money back in the form of a refund.
HUD currently holds thousands of dollars in unclaimed mortgage refunds. Could you be entitled to a refund and not even know about it?
If you have ever had an FHA loan, it’s a good idea to check and see if you could have a refund in your name. Searching for mortgage insurance refunds is fast and easy if you know where to start your search.
Typically, if you have an FHA-insured loan and make all your mortgage payments, your mortgage lender will contact you regarding a refund of your up-front mortgage insurance premium (UFMIP). Most lenders keep detailed records regarding this payment.
Not all lenders are this courteous. You may need to initiate your own search if your lender does not attempt to contact you.
To find out if you have an FHA mortgage insurance refund, start by searching the HUD database. It is an online record of all FHA loan borrowers who are owed refunds.
The HUD database is free to access. You can search for your FHA home insurance refund using any or all of the following information:
- Your full name
- The city or state in which you lived
- Your FHA case number (if you know it)
If you cannot find your name in the HUD database, it does not mean that you aren’t owed a refund. You could qualify for an FHA mortgage insurance refund and be missing from the HUD system. The agency may not have the correct information about your case.
It may be a good idea to contact HUD directly about your refund. You can call the Mortgage Insurance Premium Refund Support Service Center and speak to a representative about your case. The agency may require you to submit additional documents to support your case and check if you qualify for a refund.