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Repayment of Escrow Funds Occ  Form

Repayment of Escrow Funds Occ Form

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hi Danielle duza loan officer with win mortgage I wanted to talk about escrow so what is escrow it's common for a buyer to pay up to 15 months of property taxes and homeowners insurance at closing this money is kept in an escrow account and this ensures the lender has enough money to pay for future real estate tax and homeowners insurance bills they take that money the mortgage servicer and just pays it for you so what does it mean when escrow is in theay payment that means that when you're paying your mortgage payment the homeowners insurance and the property taxes are included in it so that's what it means when it says it's is it escrowed if that's not escro then you're paying those separately for the year and you're only paying principal and interest in your mortgage payment if your monthly payment is $2,500 per month that includes principal interest taxes and insurance and that would mean that the taxes and the insurance are e

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