What is an Escrow Impound Account in a Mortgage?

Answer When a borrower takes out a mortgage, the lender typically sets up an escrow account, a pool of money put aside to pay expenses such as property tax and insurance. Escrow impound accounts ensure th... Read More »

Top Q&A For: What is an Escrow Impound Account in a Mortgage

Mortgage Escrow Account Federal Law?

A mortgage escrow account is established as the holding account for all of the money transactions that take place when a piece of real estate is bought and sold. The escrow account is held by a thi... Read More »

California Law on Escrow Impound Accounts?

An escrow impound account can give California homeowners a sense of peace knowing that money for their property taxes and hazard insurance is being set aside for the upcoming bill. California and f... Read More »

What Is an Escrow Account for Refinancing?

Refinancing is the process of changing one mortgage into another. The new mortgage is used to fully pay off the first, primary mortgage and replaces it in the homeowner's debt structure. Homeowners... Read More »

What Is the Purpose of an Escrow Account?

An escrow account is a type of savings account that is separate from accounts used to pay principal and interest to a lender. This type of account is most commonly associated with mortgages, althou... Read More »