Mortgage Killer Accelerator

Strategy 32 of 107

Find money already owed to you: unclaimed property and old savings bonds

Depends on people or program rulesFrom an asset you already own

What it is

Search every state you have lived in through the free official map on unclaimed.org (old deposits, refunds, insurance proceeds, uncashed checks). Search for parents and late relatives too, if you are an heir.

Steps

  1. Search every state you have lived in through the free official map on unclaimed.org (old deposits, refunds, insurance proceeds, uncashed checks). Search for parents and late relatives too, if you are an heir.
  2. Search Treasury Hunt for savings bonds that matured and stopped earning interest.
  3. Never pay a finder's fee for what is free to claim. Send what you recover to principal.

Repeat: Once a year, and after every move.

Measure: Amount recovered (enter as a one-time amount).

Try it in the calculator Enter its amount in "One-time amount to principal". Add a payoff goal of 5 years to see what is still needed.

Risks

  • Scam sites charge for free searches; use only official state sites.
  • Many searches find nothing.

Who it fits

Average household, Single, Married couples, Grandmas and grandpas (62 and over), No high school diploma, No college degree, College students, Newlyweds

Needs

Any homeowner with a mortgage.

How predictable

Depends on people or program rules (tenants, family, IRS records, lenders)

A worked example (hypothetical, not guaranteed)

Picture a hypothetical household (average household). They owe $300,000 at 6.5% with 30 years left. The required payment is $1,896 a month, and that payment, which comes from income, never changes in this example.

They follow the steps: search every state you have lived in through the free official map on unclaimed.org (old deposits, refunds, insurance proceeds, uncashed checks). Search for parents and late relatives too, if you are an heir.

Suppose it brings a one-time $30,000 on principal. The loan would be paid off in 22 years 10 months instead of 30 years, saving about $134,798 in interest. To finish in five years, they would still need about $3,387 a month more from other strategies. That is why the five-year sequences stack several at once.

The amount above is chosen only to show the arithmetic. It is not an estimate of what this strategy will produce for anyone. Put real numbers from the fact finder into the calculator.

Sequences that use it

  • Found-money sweep: Money that is already yours: unclaimed property, old medical receipts, escrow surplus and over-withheld tax.
  • Bills-first stack (lowest income): No new loans and nothing to buy. Free weatherization, money already owed to you, and payments that end.

Sources and more information

Where to get help

Related strategies

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