Jan 14 , 2016

Tampa School of Real Estate

Escrow

Definition:   An impound account required by most lenders that require borrowers to pay in advance montly installments for property taxes and hazard insurance.

Pronunciation: \ˈes-ˌkrō, es-ˈ\

Used in a Sentence:   The escrow amount of our monthly mortgage payment came to $124.00 each month.

E