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Escrow account
An account that a lender or mortgage servicer establishes to hold funds for the payment of expenses such as homeowners insurance and property taxes. Also known as an impound account.
Related Terms
Escrow payment
Escrow analysis
Escrow
Trust account
Escrow closing
Special deposit account
Escrow agent
Servicer
Escrow company
Back-to-back escrow
Individual Retirement Account
Cashier's check
Verification of deposit
Impounds
Money market account
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