Your lender compares what you pay into escrow against actual and projected costs for taxes and insurance, and provides an annual accounting of escrow funds collected and spent. (fhaloanpros.com)
Similar to homeowners insurance, buyers will have to escrow funds for flood insurance. (veteransunited.com)
More commonly, homeowners will escrow funds with their lender for their homeowners insurance premium and property taxes. (veteransunited.com)