Escrow Account
Funds that a lender collects to pay monthly premiums in mortgage and homeowners insurance, and sometimes to pay property taxes.
"Escrow Account" In Context
"M.S., Leesburg The IRS does get information about certain payments that you might have made during the year, such as mortgage interest, property tax paid from an escrow account at your financial institution and payments to a college or ..." This Insurance Word is available for Sponsorship Sponsor this Definition Today.