UBCNews - Business - How to Find Out if the Government Is Holding Money in Your Name (and Claim It)

Episode Date: November 25, 2025

So here's something that might surprise you: right now, at this very moment, the government could be holding money in your name. And you might have no idea it even exists. Foreclosure Funds Recovery City: Bowie, MD Address: 12530 Fairwood Pkwy Ste. 102 #237 Website: https://foreclosurefundsrecovery.info/

So here's something that might surprise you. Right now, at this very moment, the government could be holding money in your name. And you might have no idea it even exists. That's exactly right. It's often reported that seven out of ten times people don't get unclaimed money simply because they don't know it's there. We're talking about real funds, foreclosure surplus, uncash checks, old bank accounts, just sitting there. And the wild part is, the government isn't exactly making it easy to find, right? There's no, like, central database where you can just type in your name and boom, there's your money. Not at all. The U.S. Department of the Treasury is very clear about this. There is no government-wide centralized information service. Each federal agency keeps its own records of unclaimed assets. So you've got one agency over here, another one over there, all holding different pieces

of the puzzle. So if you don't know which agency has your money, you're kind of out of luck? Pretty much. And here's the thing. The government is not obligated to notify citizens about unclaimed funds. They might publish a list in a newspaper or send a letter to an old address they have on file, but that's about it. If you've moved or changed your name, good luck. Yeah, good luck is right. I mean, who still gets the newspaper delivered to check those lists? Exactly. It's not the most system. But there are a few free resources out there. The National Association of Unclaimed Property Administrators, or Neupah, runs a site called Missing Money.com. You can search for unclaimed checking and savings accounts, uncash payroll checks, utility deposits, refund checks,

even life insurance proceeds. It's totally free, no cost to search. That sounds helpful, but I'm guessing that doesn't cover everything. Right. The types of funds that fall outside those lists are often hidden deep in the courthouse or in agency files. A lot of this stuff, especially foreclosure surplus funds, isn't on the government lists they publish. These are funds that get generated when a foreclosed property sells for more than what's owed on the mortgage. The way it legally works is that the mortgage company gets the money they're owed, but anything above that, that's yours. Wait, so if your house was foreclosed, you could still be owed money from the sale. Absolutely.

Many homeowners are unaware that they're owed money after a foreclosure. They assume they lost everything, but in reality, there could be thousands of dollars sitting in surplus. I actually had a friend who went through a foreclosure a few years back. She was devastated, thought she'd lost it all. Turns out there was nearly $8,000 in surplus just sitting there, and she had no clue until someone reached out to her about it. Wow, $8,000. That's life-changing money for a lot of people.

It really is. The problem is, if these funds go unclaimed for too long, they can be lost to the government agency holding them through a process called eschement. Esquitment. That sounds medieval. It kind of is. The concept has origins in feudal English law.

Basically, after a period of inactivity, the state can legally seize abandoned property. so the clock is ticking on these funds. In other words, if you don't act, that money eventually becomes government property permanently. I see, makes sense. That point about the ticking clock and time-sensitive funds sets up our next piece,

how professional services help people recover these hidden funds. But first, a quick word from our sponsor. If you've lost property to foreclosure, you may be owed surplus funds and not even know it. Foreclosure funds recovery audits government files and documents across the country to locate unclaimed funds, then works to reunite them with their rightful owners. We operate on a contingency basis, no upfront fees, no out-of-pocket expenses. You only pay if we successfully recover your funds.

To learn more, visit foreclosurefunds recovery.info. Picking up on those time-sensitive funds and the ticking clock, How do professional fund recovery services actually work through all this bureaucracy to get people their money? Well, these services basically do two things. First, they audit governmental agencies to locate sums of money owed to private individuals and companies. They're digging through records that most people don't even know exist. Then once they've located the funds, they expend great efforts to locate the rightful owner. And I've heard some of these companies use the Freedom of Information Act to get information.

How does that work? Yeah, locator services use FOIA to get information on checks that government agencies have issued but haven't been cashed. They'll get these lists, match them to potential owners, and then reach out. Some companies charge a finder's fee for helping people collect unclaimed money from government agencies. So they take on all the risk, do all the legwork, and only get paid if they actually recover the money? Exactly. They work on a contingency basis, which means there are no upfront cost to you. They pay all the expenses, jump through all the administrative hoops,

and if the claim is unsuccessful, you owe them nothing. In exchange, they take an agreed-upon percentage of the collected funds once everything is recovered. That seems like a fair trade, especially if you're someone who doesn't have the time or the expertise to handle all these different agencies. Definitely. I mean, think about it. You're dealing with multiple record systems, legal paperwork,

notarization, maybe even court filings. For a lot of people, it's just overwhelming. And time matters because once those funds are escheted, they're gone. Right. So to everyone listening, if you've ever gone through a foreclosure, or even if you just haven't kept track of old accounts, there could be money out there with your name on it. Have you ever wondered how much might be sitting unclaimed? It's a great question. Comptroller offices commonly return substantial amounts daily. For example, the New York State Comptroller's office returns approximately $2 million each day.

That's just one state. Nationally, the numbers are staggering. Two million a day? That's incredible. And keep in mind, there's no fee or time limit to claim money held by state Comptrollers. Once it's turned over as abandoned property, it's safeguarded until you come forward. But again, you have to know it's there. That's the catch. These agencies hold on to it, but they're not exactly sending out search parts.

to find you. Mm-hmm, exactly. So the takeaway here is, don't assume the government is going to come knocking on your door with a check. You've got to be proactive. Absolutely. Start with free resources like MissingMoney.com or your state's unclaimed property office. If you've had a foreclosure, dig deeper or consider working with a professional service that specializes

in surplus funds. The money is out there. It's just a matter of finding it before it's too late. it's too late. Well said. Thanks for breaking all this down. I think a lot of people are going to be surprised by what they find. My pleasure. I hope so.