A neutral third party holds documents and money for a real estate transaction and ensures that all conditions of a sale are met. Also refers to a special account that a lender uses to hold a …
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. …
Escrow Agent
A neutral third party who ensures that all conditions of a real estate transaction are met. …
Escrow Analysis
A lender's periodic examination of an escrow account to determine if the lender is withholding enough funds from a borrower's monthly mortgage payment to pay for expenses such as property taxes and …
Escrow Closing
Escrow closes when all conditions of a real estate transaction are met and the title of the property is transferred to the buyer. …
End Loan
The conversion from a construction loan to permanent financing a condominium buyer secures after all units in a project have been completed. …