Mortgages & Loans

What is an Escrow payment?

An escrow payment is the portion of a homeowner's monthly mortgage payment that is held by the loan provider to pay for taxes and insurance. It is also known as prepaid reserves. The loan provider holds the escrow funds in a separate account from the money identified to pay off the principal and interest.

Need Professional Help?

If you need help with "Mortgages & Loans" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.