Which of the following is an account used to pay property taxes and homeowner's insurance?

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An escrow account is a separate account where funds can be held to pay for property taxes and homeowner's insurance. This is typically set up by the mortgage lender and the homeowner makes monthly contributions to the account as part of their mortgage payment. When property taxes or insurance bills are due, the payments are made from the escrow account.

Which of the Following Is an Account Used to Pay