A new survey from LERETA, a national provider of real estate tax and flood services for mortgage servicers, reveals persistent gaps in mortgage borrowers’ understanding of escrow accounts — even as ...
The new Realtor.com report found escrow costs now account for 38% of total mortgage payments in Florida, a 70% increase over the past five years.
Most homeowners are surprised by escrow payment increases, with 62% citing higher property taxes as the cause.
An escrow account is a secure holding area for money and documents during a real estate transaction. It protects buyers, sellers, and lenders by ensuring no funds or titles change hands until all ...