December 2007

What Does It Mean To “Escrow” Taxes And Insurance?

December 5, 2007 by MikeRosen · Leave a Comment 

As a homeowner, your financial obligations extend beyond your monthly mortgage payment. Periodically, you are also required to pay real estate taxes and homeowner’s insurance premiums.
Each month, you pay your mortgage payment to a company called a “mortgage servicer” (because they “service” your mortgage each month).
In addition to the risk of not getting paid by [...]