Perennial Funding provides helpful tips for borrowers who would like a greater understanding of escrowed accounts for real estate transactions. Special Escrow Accounts Designed to safeguard the interests of various parties, a special escrow account may be used to secure an earnest money deposit, a down payment on a real estate sales contract or to hold money toward closing costs.
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Understanding Real Estate Taxes and Funds in Escrow. Mortgage lenders, real estate firms and title companies provide escrow accounts to ensure that funds are allocated in advance for a variety of items. Perennial Funding provides helpful tips for borrowers who would like a greater understanding of escrowed accounts for real estate transactions.
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