Questions and Answers Regarding Escrow Accounts

Kurt Clements Real Estate Leave a Comment

Whether you are purchasing a new Chicago home or you are considering applying to refinance your home, chances are the lender will require an escrow account. These accounts are often a source of confusion for homeowners. In reality, these accounts benefit the homeowner and help protect the lender. What is an escrow account? Escrow accounts are sometimes called “impound” accounts. …