Advantages and Disadvantages of Mortgage Escrows

A mortgage escrow account is a type of trust account that your lender uses to collect and pay your property taxes and homeowners insurance premiums on your behalf. Each month, you make a payment to your lender that includes your principal and interest payment, as well as an amount to cover your escrow expenses. Your lender then uses the money in your escrow account to pay your property taxes and...

Essentials of Mortgage Refinancing: What You Need to Know

Mortgage refinancing is a financial strategy that allows homeowners to replace their existing mortgage with a new one, typically at more favorable terms. This process can be a valuable tool for homeowners looking to save money, reduce their monthly payments, or access their home's equity. However, it's essential to understand the fundamentals of mortgage refinancing to make informed decisions about your...

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