bellcheckchevron downcrosspaper plane

Escrow Account

An escrow account is a special account that your lender uses to hold your monthly payments toward property taxes and insurance. Instead of paying for your tax and insurance payments in one lump sum, you can pay for them as part of your monthly mortgage payment. Your lender collects these payments in your escrow account, and when your tax and insurance bills become due, your lender makes the payment for you.

Choose Another Letter Below