mortgage financing tips: Mortgage 101 - An Overview of Escrow Accounts
- 12/16/13 10:25 PM
Mortgage 101 - An Overview of Escrow Accounts
Whether you are purchasing a new home or you are considering applying to refinance your home, chances are the lender will require an escrow account. These accounts are often a source of confusion for homeowners.
In reality, these accounts benefit the homeowner and help protect the lender.
What Is An Escrow Account?
Escrow accounts are sometimes called “impound” accounts. These accounts are set up to help manage payments of property taxes and homeowner’s insurance.
Depending on the individual requirements of the lender, you may be asked to pay as much as one-quarter of … (1 comments)
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mortgage financing tips: Important Tips To Do When Behind On Your Mortgage Payments
- 08/06/13 12:04 AM
Important Tips To Do When Behind On Your Mortgage Payments
What happens if you go through a tough financial period and you find yourself behind on your mortgage payments for your home?
If you are missing mortgage payments and are having difficulty paying, this can become a serious problem. Even just one missed payment can be difficult to catch up on, and if you are in this situation it is important to get help right away.
Contact Your Lender
The first step in this circumstance should be to get in touch with your mortgage lender to explain the situation. Simply … (0 comments)
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Mortgage 101 - An Overview of Escrow Accounts
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