What are impounds on a home loan?
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Asked By: Eda Wehner
Date created: Tue, Dec 1, 2020 12:28 PM
Date updated: Tue, Mar 21, 2023 4:42 AM
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Video answer: Impound accounts explained: mortgage 101
Top best answers to the question «What are impounds on a home loan»
An impound account (also called an escrow account, depending on where you live) is simply an account maintained by the mortgage company to collect insurance and tax payments that are necessary for you to keep your home, but are not technically part of the mortgage.
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