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
Want to understand exactly what is a real estate consultant?Well, it’s hard to define a real estate consultant by its duties, because it’s very similar to that of a real estate ...
Licensed real estate broker who has a listing of property for sale. ...
Entrance or path to a land parcel. Passageway existing from property. An egress may lead to a roadway or some other form of exit. ...
Angle from north or south of a property. When a real estate appraiser does surveying, it is looked at clockwise from north. It may assist in determining the form or boundaries of land. ...
The US real estate market is filled with several confusing legal terms. One of those terms is "attorney-at-law." But who exactly are they? And how do they differ from real estate lawyers? ...
Trademark name for shotcrete. ...
Same as term industrial park: Usually a fairly large site zoned and planned for the purpose of industrial development and located outside the main residential area of a city. Industrial ...
Favorable occurrence providing a good chance for success, usually in financial terms. ...
Substance developed from a binding cement medium with stone particles compacted together. After concrete hardens, its characteristics are very similar to stone. Concrete is an essential ...
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