December 21, 2011
One of the frequently asked questions at FHA.gov involves FHA loan refunds for mortgage insurance premiums. This continues to be an issue for the FHA, and according to FHA.gov the agency has increased its efforts to find home owners who are due refunds.
The FHA has hired a third party agency called Immediate System Resources to assist in the search for those who are due an FHA mortgage insurance premium refund. According to the FHA, “This will save people the ‘finders fees’ normally collected by third party tracers. If someone from Immediate System Resources, Inc. contacts you, they are officially affiliated with HUD and will help you and won’t charge you to get your refund.”
The “tracer companies” mentioned in the quote above contact home owners with offers to help locate the mortgage insurance premium refund–for a fee. But no fees are needed as the FHA offers borrowers a cost-free way to find out if they are owned money. The tracer companies are not operating illegally, but their fees are unnecessary.
Borrowers are encouraged to check the FHA list to see if their name appears. Simply go to the FHA official site page titled “Does HUD Owe You A Refund”. If your name appears, call the FHA/HUD directly at 1-800-697-6967 to get more information. FHA advises borrowers to have their FHA case number handy to speed up the process.
At the time of this writing, the FHA advises, “Due to increased public interest, the Mortgage Insurance Premium Refund Support Service Center is experiencing a high volume of calls. Please be aware that the 1-800-697-6967
Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.
Browse by Date: