Hello and welcome to another consumer tip, courtesy of your friends here at TMG The Mortgage Group. One of life's small joys is finding lost money or money that you forgot you had. The other day I took out my winter coat and found $25 that was sitting there for the better part of 6 months.

Imagine this, the Canadian Federal Government has close to hall a billion dollars in their bank that belongs to thousands of Canadians that forgot they had this money.This forgotten money arrives at the bank of canada from many sources, the most common is that someone had a little bit of money in an account, moved and forgot to keep track of it. After about 10 years of inactivity the bank has to send the money to the Federal Government who hold onto it until someone claims it. Some might think that the process of finding out whether there is money in your name might be time consuming and complicated.I'm here today to let you know it is actually quite easy.

There is a web site operated by the federal government. All you have to do is type in your name and it tells you if there is any money in an unclaimed account.
I checked myself and for now I am going to have stick with the $25 I found in my winter coast but if you would like to send me an email I will give you the web site address and you can check your name and as many of your relatives as you want.

Who knows, maybe aunt Betty or Uncle Fred passed on with some money that did not get caught up in their will. It's worth a couple of minutes to see if you can grab onto some of that 1/2 billion dollars sitting in Ottawa not paying you any interest.
Until next time, I'm John Charbonneau here at TMG The Mortgage Group and the Mortgage Group, reminding you that we are never to busy to let you or any of your friends know what your mortgage options are.