Unclaimed Property Blog

Lost funds in Iowa are still a big problem, and this news may be bittersweet to Iowa residents everywhere. On one hand, the news is bad because lost funds of any kind put a strain on the economy. The more money is in the Iowa lost funds account, the less money is in the pockets and accounts of hard working state residents. Yet the news can be good because it means that a good number of lucky families have a chance to make this holiday season a very lucrative one indeed. It all depends on the ability of residents to search for and find the Iowa lost funds that they have coming to them. In that aspect, there is even more good news. A database known as Cash Unclaimed is offering its services to Iowans everywhere. It only takes a simple search with a first and last name and lost funds in Iowa may soon become a thing of the past.

For those who thought that the U.S. had all but done away with its lost property problem, 2014 is going to leave them sorely disappointed. Not only is lost property not going away, it’s supposed to gain speed. From January through tax time and right on through December of next year we should expect to see billions accumulate in respective lost property accounts all over the country. What is one to do about this growing problem? You can start by searching for lost property; once right now and then again at the end of next year.

The Lost Property Culprits

Big purchases that require big money typically rely on what is known as escrow for ensuring that the funds are safe while the deal is in progress. Most people think of home buying when they think of escrow, and that would be an excellent example of this concept at work. The process of buying a home can be long and tedious. There is much to consider and the deal typically takes weeks or months to be finalized. Instead of the buyers transferring the thousands or millions of dollars directly to the home seller, the money can be put into escrow until the deal is finalized and the deed of the home finally changes hands.

If you live in Maryland and you thought that the missing money problem had all been taken care of, you are sorely mistaken. The problem has been gathering speed every year since it was first announced that missing money in Maryland had all been eradicated. Well, it is far from eradicated. In fact, the problem is only getting bigger.