Real Estate Glossary



  Escrow Payment

The portion of a mortgagor's monthly payment that is held by the servicer to pay for taxes, hazard insurance, mortgage insurance, lease payments, and other items as they become due. Known as "impounds" or "reserves" in some states.

 

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PROVIDING PROFESSIONAL REAL ESTATE SERVICES IN THE CHARLESTON AREA FOR MORE THAN 130 YEARS.


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