ilvagnoli Holdings LLC
Unclaimed Mortgage Refund Recovery Services
FREQUENTLY ASKED QUESTIONS
Regarding FHA / HUD Mortgage Insurance Premium Refunds
If you have questions that are not addressed in this section, please let us know what those questions are and we will be happy to add the questions and answers to this FAQ page.
Why Am I Entitled to this Refund?
When you purchased yourt property, you had an FHA Mortgage. To protect the government in case of default on the loan, at the closing table and in the closing costs, you were required to pay a substantial up front Mortgage Insurance Premium (MIP) of approximately 1.50% of your total loan amount and subsequently paid approximately .05% each month in your mortgage payment for mortgage insurance. When you later refinanced or sold the property, the original FHA Mortgage was paid off by the new refinance or by the new owner. Consequently, your mortgage insurance policy was no longer needed and was canceled. You, therefore, get money back for the unused portion of the premium that you paid up front in the closing costs for the mortgage insurance policy.
How do I prove for myself that this refund is for real?
Once you hire us to start the recovery of your refund you will be provided with phone number and your specific account number which will enable you to verify your FHA/HUD Mortgage Insurance Premium (MIP) refund entitlement for yourself.
What is the Redemption Date?
The Redemption Date is the date your FHA/HUD Mortgage Insurance Premium (MIP) refund became available to you. It is the date that your FHA mortgage was canceled by either a refinanced mortgage or by the new owner if the property was sold.
Why was the refund not automatically sent to me?
FHA/HUD sends notices with refund information to homeowners at the last known address for a two-year period after Redemption Date. If you moved, you may not have received the notices. If you did receive, you may have chosen to simply ignore the notices. If your refund is not claimed by you in two years after the Redemption Date, your name(s) is/are added to the national list of rightful recipients and the government database system. Refund checks are not automatically sent to homeowners. A claim for the refund check must be filed. If you don't know how, REFUND RECOVERY SERVICE is available to assist you
Why doesn't FHA/HUD do this themselves?
It was determined that it would be cost prohibitive to staff an FHA/HUD Department for the sole purpose of locating refund recipients because a good percentage of individuals move, fail to provide a change of address notice at the post office, and notices to homeowners are often mistaken as "junk" mail and they get tossed into the trash. A decision was made to allow independent processors to assist in getting these unclaimed refunds back into the hands of homeowners who are rightfully entitled. That decision has proven to be most beneficial to homeowners. Without us, many homeowners would not have received their refunds.
As a direct result of the efforts of independent refund processors (third party tracers) to locate, contact and assist homeowners with the recovery of their refunds, more homeowners have received and will receive their refund checks. If not contacted by an independent refund processor, many homeowners would remain unaware that they have this money available to them.
Can I still get refund if co-signers are divorced? And what if co-signer is deceased?
If divorced, Absolutely! If whereabouts of co-signer is unknown, you can file a claim for your percentage of ownership, i.e. 50% of the refund amount. If the other co-signer wants his or her 50% portion of the refund, a separate claim must be filed.
If co-signer is deceased, the survivor can claim 100% of the refund. A copy of the Death Certificate will be required by FHA.
How long does it take to get refund check?
Per FHA/HUD, the normal processing time is up to 120 days from date of receipt of the refund request. However, if submission package to FHA/HUD to request refund is complete and accurate, including properly completed, executed and notarized refund request form and proper proof of ownership documents are provided, the processing time can be as little as 4-7 weeks from time of receipt of submission package requesting refund at FHA/HUD in Washington D C. Our service provides you with accurate and complete submission information which will greatly reduce the processing time.
Can you provide references or testimonials?
Go to Testimonials for authentic testimonials to see the list of Happy Clients who have already received their FHA MIP refund checks.
Can I do this myself?
Yes, you can do this yourself. Time, patience, perseverance and determination to see the refund process through are absolute must-have traits. The normal processing time can be up to 120 days. Homeowners trying to get their refunds themselves often become frustrated and discouraged and give up before they actually receive their refund checks. Dealing with a government agency can be an intimidating and a grueling experience.
Before FHA/HUD releases funds, certain procedures are required and someone deviating from the correct procedure will experience difficulty in ultimately receiving refund check and most will seek the services of a professional refund processor.
For your information, a requirement of FHA/HUD is for you, the homeowner, to provide recorded proof of ownership documents. If you are well organized and have easy access to your real estate records, then you may be in good shape to handle the process yourself, though your document copies may not be the recorded copies. Therefore, it would be necessary for you to make a trip to the appropriate County Court House, conduct a public search for the specific documents, then purchase copies at approximately $1.00 per page (oftentimes 35-40 pages). This could be a time consuming and costly task.
Please note that our services include obtaining and providing those specific documents to you, at our expense, thus relieving you from this ordeal.
But, yes, you can do it yourself. And we wish you the best of luck.
What do I need to do to get started?
Just give us a call! Or submit the Agreement document that was provided when we contacted you about your refund. This will be a joint effort between you (the homeowner and client), Rafael Silvagnoli, Processor for Silvagnoli Holdings LLC. Your participation, assistance and cooperation will be needed in order to expedite the issuance of your refund check in the shortest possible time.
If you want to get your money back and prefer our assistance with the recovery of your FHA/HUD refund, as opposed to doing it yourself, simply give us a call at 407-710-8721, or send an email to email@example.com. A very simple Agreement form will be provided for your signature and return to us. That form will authorize Silvagnoli Holdings LLC to work in your behalf and to assist you with the recovery of your refund. The Agreement further stipulates your agreement to pay the nominal processing fee not before you get your refund check but within five (5) days after receipt of your refund check. Upon receipt of the Agreement, the refund process wil get under way. It simply cannot be made any easier for you to get your FHA refund check.
WE WILL APPRECIATE THE PRIVILEGE AND OPPORTUNITY TO BE OF SERVICE!