Can you make money by processing FHA and HUD mortgage insurance premium refunds? I’ve Tried That is about to find out. Or rather, one of our Secret Agents is about to find out. (Note to self: It’s hardly “secret” if you’re publishing it on a blog. Response from self: So?)
According to the people who are pitching this opportunity online, there are hundreds of millions of dollars sitting in HUD and FHA accounts waiting for people like you to find the rightful owners. The money comes from mortgage insurance premiums that are due to be refunded to the signer of the mortgage, but he or she can’t be found. If you find the owner and put them in touch with their money, you get a cut of the refund.
At least, that’s how the story goes. A number of sites are ready to sell you software and instructions to help you get started in your own HUD/FHA Mortgage Insurance Refund business—for a price, of course. AmericanRefundServices.com and EagleSoftwareServices.com are among them.
But what do we always say? “No legitimate job will charge you before you can start working.” We still believe that’s true. But we also know there are some companies out there selling legitimate products that will help you do a job or establish a business.
Fany is our new Secret Agent. She writes:
I purchased your e-book, too, and I found it to be extremely helpful. I have found really good job leads since and am actively sending my resume to a couple of companies.
However, I replied to this one that I found on craigslist and they contacted me back but they are charging a fee for the software. It sounds legit and I did some research on the HUD site and it states, “Other ‘tracer’ companies are legal. But they do not represent HUD, and they will charge you a fee. You do not have to use a tracer to get your refund, if you are owed one.” The program I want to try is http://www.eaglesoftwareservices.com. I found some forums in which it states that some of these programs are legit and some that say this is a rip off selling you old lists from HUD. I could not locate anything on I’ve Tried That.
—Da Fanster, Private Eye
Doing her own research…bought our ebook, but one of the leads she found is charging her…searched I’ve Tried That for info first. Sounds like a winner! We’re going to sign her up, she’ll give the program a full trial, and we’ll post our results here! That’s what we do here at I’ve Tried That.
Update: Read the full review here.
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