Definitions for "Impounds"
Related Terms:
Impound, Escrow payment, Impound account, Escrows, Escrow accounts, Tax and insurance escrow, Escrow account, Principal, interest, taxes, and insurance, Servicing a loan, Piti, Pre-paids, Escrow analysis, Escrow waiver, Servicing, Principal, interest, taxes and insurance, Housing expense, Prepaids, Loan servicing, Prepaid items, Cash reserve, Piti reserves, Escrow disbursements, Mortgage payment, Reserves, Monthly payment, P.i.t.i, Budget mortgage, P.i.t, Cash reserves, Escrow funds, Mortgage insurance premium, Payment schedule, Monthly housing expense, Pre-payment, Mortgage insurance premium (mip, Mortgage default insurance, Mip, Private mortgage insurance, Installment, Mortgage insurance, Pmi, Prepayments, Prepaid expenses, Prepaid, Lump sum payment, Mortgage indemnity guarantee, Mig, Partial payment, Mortgage indemnity insurance, Total monthly payment
That portion of a monthly mortgage payment which is placed in an account to be used to pay for property taxes, private mortgage insurance and insurance.
A reserve account often required by lenders to cover future payments of taxes, lease rent, insurance, etc.
prepayments of taxes and insurance. (Different lenders and loan amounts determine if these are needed, and if so how much these are.)
A reserve account to accumulate funds to insure payment of insurance and county taxes on the property.
A trust account set up by lenders to accumulate funds to pay taxes and insurance. They are usually collected along with the mortgage payment.
The portion of the monthly payment that is not applied to principal or interest, but rather is used to pay mortgage insurance, homeowners insurance and property taxes.
Government taxes and homeowners insurance which borrowers are required to pay in advance at the closing of the loan
The portion of a monthly payment held by the lender to pay for real estate taxes, fire insurance, flood or earthquake insurance, and mortgage insurance. FHA, VA, and low down-payment conventional loans typically require impounds.
A trust account established by lenders for the accumulation of borrower funds to meet certain expenses such as taxes and hazard insurance.
Real Estate Taxes and Insurance as well as Private Mortgage Insurance (PMI) may be paid apart from the monthly mortgage payment, or these costs may be added to the principal and interest portion of the mortgage payment.
A portion of the monthly mortgage payment that is placed in an account and used to pay for hazard insurance, property taxes and private mortgage insurance.
A monthly payment, added to the monthly principal and interest payment that is directly deposited into an escrow account. These funds will be used to payoff property taxes and hazard insurance premiums when they come due.
A trust type of account established by lenders for the accumulation of borrower's funds to meet periodic payments of taxes, mortgage insurance premiums, and/or future insurance policy premiums, required to protect their security.
T & I in PITI. Taxes and Insurance that are included in a borrower's monthly payment. These monies are held in an escrow account until tax and insurance bills are due, at which time the lender pays the bills with money in the escrow account.
That portion of a borrower's monthly payments held by the lender or servicer to pay for taxes, hazard insurance, mortgage insurance, lease payments, and other items as they become due. Also known as reserves.
An impound account, also called an escrow account, refers to the funds a mortgagor pays to the lender along with their monthly principal and interest payments for the payment of real estates taxes and hazard insurance. These funds are held by the lender to make payments for taxes and insurance when they are due.
Money that is placed in an escrow account to pay for property taxes and insurance.
A reserve account established to pay taxes and insurance.
An impound refers to the funds a mortgagor pays to the lender along with their monthly principal and interest payments for the payment of real estates taxes and hazard insurance. This is also referred to as an escrow account. The money is held by the lender to make payments when they are due.