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Is there escrow with buying a house and a loan?
Ok. I'm buying a home and they're talking about the escrow. Then the loan officer is talking about how I need escrow. So is it all the same? Or are these different escrows? And what does that even mean?
Asked By Chad | Fairview, TN | 216 views | Buying | 4 months ago
Answer(2)
Desiree Burgnon
Coldwell Banker Home Source
Yes in some states they use escrow. Escrow is a third part that handles all of the paperwork between mortgages co, title, both agents and buyers and sellers. They make sure that everything is taken care of in a timely manner.
- 3 months ago
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Judy Behan
Berkshire Hathaway HomeServices Professional Realty
Your mortgage payment includes your mortgage payment Plus the items (home insurance, property taxes, PMI & there may be some others) that the bank will collect a portion of money to be held in escrow as part of your TOTAL mortgage payment.
- 3 months ago
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