As we show you in this video, an escrow account is an account, established by your lender, to set aside a portion of your monthly mortgage payment to cover annual charges for homeowner’s insurance mortgage insurance (if applicable), and property taxes.
Escrow accounts are a good idea because they assure money will always be available for these payments.
If you use an escrow account to pay property tax or homeowner’s insurance make sure you are not penalized for late payments since it is the lender’s responsibility to make those payments.
"Very detailed and completely professional with a family feel. The entire process was great from start to finish"
Stacy S. - Buyer - Huntington
"Great location, nice office and great people to work with."
Charles W. - Seller - Lexington
"Christy has gone above and beyond her regular duties to take care of my needs. In my opinion, in the process of selling my house and buying a new one, it seems she’s the only person who hasn’t been a source of frustration to me. She is a credit to BesTitle and I am grateful for her hard work."
Dave B. - Seller - WV