Unclaimed Money

How much are you going to have to spend on taxes this year? Have you recently lost your job? Or, did you have a tough year in the market? For most of us, finding some unexpected cash would be a windfall. And, believe it or not, it may not be so out of reach. Each year, billions of dollars in cash and property go unclaimed. Some of that may be yours if you've changed jobs, forgotten about an old bank account, or even moved. Luckily, getting your money back is relatively easy, thanks to the Internet.

Finding Missing Money

You can log onto one of the many Web sites specializing in unclaimed money. However, be careful and read the fine print. Some charge a fee for their services. However, one Web site, called MissingMoney.com, is free. It's an online database sponsored by the National Association of Unclaimed Property Administrators. It taps into the records of 26 participating states and includes links to the non-participating states' Web sites. All you have to do is type in your name. Then, the site does all the legwork for you. If any matches are found, you can start the claims process right on the site.

Unclaimed Federal Money

Not all unclaimed money is in the hands of the state government. The federal government holds onto things like old savings bonds, federal tax refunds, pensions, and government-guaranteed mortgage insurance refunds. Unfortunately, there is no central database for federal unclaimed property. So, you'll have to do the work yourself and check with the government agencies that may owe you money.

Savings Bonds

If you're looking for old savings bonds, you best bet is to contact the Bureau of Public Debt. The agency keeps records of all savings bonds that have been issued and will conduct the search for free.

Tax Refunds

According the IRS, there are tens of thousands of unclaimed tax refunds every year. The checks may not reach taxpayers because they have moved, changed their names, or addresses were not legible on their returns. To find a missing tax refund, simply call (800) 829-1040.

Mortgage Refunds

Have you ever taken out a Federal Housing Administration insured mortgage and paid a premium? If so, you may be owed some money. When you sell your home, the FHA sends a letter notifying you about any refund. The problem is, many of these letters get lost during moves. To find out if you're owed a refund, you can call (800) 697-6967.

Did You Know?

One in every eight Americans has missing money waiting for them.
MissingMoney.com

__________________

There are more than $8 billion dollars of unclaimed savings bonds.
Bureau of Public Debt

Read more smart consumer tips and strategies
from Fox11 Eyewitness News Online

PRIME PICKS

TWO AND A HALF MEN
Tonight at 7:30 PM
Carpet Burns and a Bite Mark
Charlie organizes an intervention to keep Alan from reuniting with Judith