What Is an Escrow Account?

What Is an Escrow Account?

An escrow account, also known as an impound account, is a financial arrangement commonly used in the context of home insurance and mortgage payments. It serves as a designated account that holds funds to cover specific expenses related to homeownership. Here’s...
Why You Need Condo Insurance

Why You Need Condo Insurance

Are you contemplating buying a condominium but aren’t sure if you need condo insurance? While it’s not required by law in many states, most lenders or banks won’t give you a mortgage unless you provide proof you have insurance first.  Besides, having condo...