Bankruptcy Home Loans: What are mortagage escrows?

Friday, January 20, 2006

At 11:16 AM, Bankruptcy Home Loans said...: Simply stated: Mortgage escrow accounts are accounts set up to make sure the homeowners' property taxes, fire and hazard insurance premiums, and mortgage insurance premiums are paid in a timely fashion. They guarantee that there is always enough money to pay these bills when they are due. This avoids the risk of homeowner's having lapsed insurance coverage, or delinquent taxes.
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