Kenna, New Mexico - Home Loans, Housing Loans, and Loan Companies.

New Mexico - Loan Companies

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What is an escrow account? An escrow account is typically established at the time you close your mortgage loan. This account is held by the lender for the future payments of recurring items relating to the mortgaged property, such as real estate taxes and insurance premiums, as they become due. Lenders usually require you to pay an initial amount for each of those items to start the reserve account at the time of closing.
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