Understanding Escrow Accounts in Real Estate

[unable to retrieve full-text content]In the world of real estate, the inability of a borrower to properly insure their home is not only negligent, but potentially a financial disaster for the lender. This also holds true in the case of missed tax payments on the property, as either one of these situations can lead to the lender's collateral being forfeit or lost. For situations where the borrower's ability to maintain these two vital responsibilities is in question, an escrow account might be the answer.

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