Loans Archives - Homeland Title and Escrow

Myths Vs. Facts About Escrow and Insurance – Learn the Facts and Protect Your Assets

December 29, 2023December 29, 2023 by Emmanuel Robertson

In real estate, an escrow account is typically used by your mortgage lender to pay property taxes and home insurance premiums on your behalf. This account is funded by a portion of your monthly mortgage payment. Many homeowners believe they are locked into their home insurance policy for the duration of their mortgage. This is … Read more

How To Remove Escrow Account From Mortgage? A Guide for Homeowners

December 29, 2023December 28, 2023 by Emmanuel Robertson

Escrow accounts provide a significant benefit by simplifying budget management for homeowners. By dividing the annual cost of taxes and insurance into manageable monthly payments, the escrow system helps homeowners avoid the burden of large, lump-sum payments. For lenders, escrow accounts minimize the risk of unpaid taxes or lapsed insurance policies, which could jeopardize the … Read more