One of the easiest ways to make money is unclaimed deposits?
Every year millions of dollars in unclaimed money and property are turned over to the State by companies who cannot locate the owners - like, uncashed checks, bank accounts, security deposits, utility deposits, and stock certificates. Companies cannot keep money owed to another indefinately. When they cannot find the owner, the money must be handed over to the State. State laws require the remittance of unclaimed money, from:
banking and financial organizations,
insurance companies,
utilities,
a fiduciary,
a court,
any public corporation,
public authority, public officer, or political subdivision.
How much unclaimed property is there?
Each one of the 50 states is holding unclaimed money and property. The State of California alone is currently holding more than $2.6 Billion in Unclaimed Property value belonging to approximately 5.2 million individuals and organizations. This property is mostly money left inactive or dormant by the owner for more than three years.
How much money can I make as a Private Investigator?
Once you have learned the rules and how to use the internet to find the current address and phone number of the lost money owners, you can make very good money for only a few hours work a week. HUD refunds are the easiest type of lost money owner to find. On average it is about 3 hours work for a experienced tracer to earn their pay check and pays up to 30% of the amount of the refund. So a tracer can earn up to $333 for helping the owner of a lost HUD refund collect their money. Plus, there are other ways of making money being an Online Detective - see below.
How large are the HUD refunds?
When a HUD/FHA loan is paid off, the refund owner is due a refund from the government of the over payment of the mortgage insurance. If it was a 30 year mortgage and the owner lived in the house for only 5 years, sold the house and paid off the loan, there would be a refund for 25 years of mortgage insurance premiums or as much as $8,000.
Why is the HUD refund lost?
By the time the paper work and everything is complete and FHA/HUD mails the refund notice to the owner several months have passed and the owner has moved away, and not everyone leaves a forwarding address. Many times it has been more than a year before the notice is mailed and mail forwarding has already stopped forwarding the owners mail from the old address. The government is only required to mail the refund notice to the last known address of the refund owner, and most people don't know they have a refund coming. So, you find the owner and the owner pays you up to 30% of the refund for your help in collecting it.
How else can I be successful as an Online Detective?
Find missing persons
Provide background checks for employers
Provide pre-rental screening for landlords
Do genealogy searches for families
Business name, patent or trademark research
Skip tracing
Adoption Reunion
Hidden asset finder
Help resolve identity theft
...and much more
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