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
Type of investment company that invests money in mortgages and various types of investment in real estate, in order to earn profits for shareholders. Shareholders receive income from the ...
Frame surrounding a door or window to block adverse weather. It may be made of wood, metal, or other material. The frame may be fixed or moveable. ...
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