Tax And Insurance Escrow
When a mortgage loan is provided to a borrower, the lender establishes a fund called a tax and insurance escrow to accumulate the debtor's monthly payments for property taxes and insurance premium for the mortgaged property. As the taxes on the property and insurance premiums change from year to year, the amounts needed to fund the tax and insurance escrow account also change.
Popular Real Estate Terms
Credential awarded by the International Association of Assessing Officers to appraisers of real property working for a government body. ...
Also called "Grey Shell, "Bare Shell," and "Artic Shell," a Cold Shell could be described as the more radical version of a Vanilla Shell. So, what does precisely the Cold Shell definition ...
Monies paid to use property, such as the use of natural resource extractions. The royalty payment is typically based upon some percentage of the income or fee for substances generated from ...
Same as term yield: The income earned on an investment, typically stated as a percentage of the market price ...
Branch of economics that applies the tools of economic reasoning to the analysis and solution of urban economic problems. ...
An account into which payment is made for particular expenses to assure that money will be available. An example is a special account the homeowner's attorney establishes for advance ...
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Farm land. Land that has trees on it. ...
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