Did you get your mortgage refund?

Refund! That is a word sure to make anyone perk up their ears. And if you have ever had an FHA-insured mortgage then you should pay attention. While the refund process should be automatic, sometimes a refund gets missed or the payee can’t be located. First check the HUD website to see if you are owed a refund. You will need to enter your name or your FHA case number.

To be eligible for an insurance premium refund, you must meet these requirements:

• acquired your loan after September 1, 1983
• paid an up-front mortgage insurance premium at closing and
  
• did not default on your mortgage payments

To be eligible for a distributive share from the Mutual Mortgage Insurance Fund you must meet the following:

• 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.

The HUD site encourages people who need help with their refund to contact them directly and not to hire someone to assist in collecting the refund. Often the collectors are scam artists. The direct number to the HUD support center is 1-800-697-6967.

For more details, directions on requesting your refund, and a list of the exceptions, read the FHA Homeowners Fact Sheet.

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