Once you buy a house, the amount you pay each month includes an extra amount above principal and interest. This extra money is held in a special account to pay your taxes and homeowners insurance when it comes due. This account is called:
A) an escrow account
B) a savings account
C) a regular checking account
D) both B and C
Correct Answer:
Verified
Q1: In a condominium hotel you would find
Q2: Which is true of the cost of
Q4: Which of the following does the Federal
Q5: If you purchase a type of insurance
Q6: A type of foreclosure proceeding used in
Q7: Which of the following is not part
Q8: A period payment cap applies to:
A)Any mortgage
Q9: The commitment issued by a lender to
Q10: A fund set aside for replacement of
Q11: The term "servicing" describes:
A)the collection of mortgage
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