https://ficoforums.myfico.com/t5/Mortgage-Loans/ESCROW/m-p/228094#M13477 <DIV>Escrow can also be the period of time it takes from the time your offer is accepted until you close on the home/mortgage - called the <EM>escrow period</EM>.</DIV> Fri, 02 May 2008 23:47:33 GMT ShanetheMortgageMan 2008-05-02T23:47:33Z https://ficoforums.myfico.com/t5/Mortgage-Loans/ESCROW/m-p/227901#M13461 <DIV>I am in the process of seeking a mortgage.&nbsp; The term has been used in many of my conversations with the lender.&nbsp; What exacttly is escrow and how does it work asfar as mortgage loans are concerned?</DIV> Fri, 02 May 2008 20:18:00 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/ESCROW/m-p/227901#M13461 Anonymous 2008-05-02T20:18:00Z https://ficoforums.myfico.com/t5/Mortgage-Loans/ESCROW/m-p/227904#M13462 <DIV>1/12th of taxes and insurance is added to your payment. at the end of the year the lender will pay those for you out of this fund.</DIV><DIV>in addition, lenders will require 2-3 months to be held in reserves..... so they will have enough in the account if taxes and/or insurance goes up</DIV> Fri, 02 May 2008 20:21:25 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/ESCROW/m-p/227904#M13462 DallasLoanGuy 2008-05-02T20:21:25Z https://ficoforums.myfico.com/t5/Mortgage-Loans/ESCROW/m-p/228094#M13477 <DIV>Escrow can also be the period of time it takes from the time your offer is accepted until you close on the home/mortgage - called the <EM>escrow period</EM>.</DIV> Fri, 02 May 2008 23:47:33 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/ESCROW/m-p/228094#M13477 ShanetheMortgageMan 2008-05-02T23:47:33Z