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Overbid proceeds: If a foreclosed home or tax lien for delinquent taxes is sold at auction for a price above the money owed, the former property owner is owed the so-called "overbid proceeds," which are typically held at the county level. But, counties typically send notifications about the funds to the foreclosed address, so many people remain unaware of the extra cash, according to Mary Pitman, author of "The Little Book of Missing Money. Contact the county clerk to find out which local agency holds the funds. We're no longer maintaining this page.


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Unclaimed property comes from a variety of sources, including abandoned bank accounts and stock holdings, unclaimed life insurance payouts and forgotten pension benefits. What are your financial goals in ? Did you discover you were the rightful owner of unclaimed property? Share your story with melanie. Personal Finance.

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The Truth About Unclaimed Money

Law requires it, not only in New York but every one of the 50 states and the District of Columbia. Money from fewer than accounts from a customer base of nearly , members was turned over the state. Those were the ones deemed abandoned by the credit union and the auditors.

The state found no flaws in the credit union's processes for uncovering dormant accounts. After the first 12 months of inactivity, Visions contacts the member to advise them of their options and what is in store if the account continues in dormancy. Usually, that spurs account holders into action. No amounts are revealed.

Infographic: Four Tips to Find Unclaimed Money

Getting third parties to contact holders of idle accounts further whittles down the list of dormant accounts. That happens in November every year. This summer, staff members were encouraging the thousands of people who attended the Binghamton three-day Spiedie Fest and Balloon Rally to check the database to see if they were listed. They also attend the annual Lilac Festival in Rochester and set up camp at the New York State Fair in an attempt to make a financial match.

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But, counties typically send notifications about the funds to the foreclosed address, so many people remain unaware of the extra cash, according to Mary Pitman, author of "The Little Book of Missing Money. Contact the county clerk to find out which local agency holds the funds. We're no longer maintaining this page. Unclaimed property comes from a variety of sources, including abandoned bank accounts and stock holdings, unclaimed life insurance payouts and forgotten pension benefits.

What are your financial goals in ?

Unclaimed money: Is some of this $58 billion yours?

Did you discover you were the rightful owner of unclaimed property? Share your story with melanie. Personal Finance. LendingTree Paid Partner.

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