Realizing the Applicable Benefits of Escrows
Wednesday, October 14th, 2009To better understand Escrow or an escrow account, let’s view it as a savings account you put your money into. This account is then used to pay off your home insurance and taxes and most importantly your home mortgages. It is the lender who opens a mortgage account and once a percentage of the mortgage account is paid and having faithfully paid your monthly mortgages, the lender might no longer require you to pay any further payments.