escrow payment

Definition

The funds that are withdrawn by a mortgage servicer from a borrower's escrow account to pay property taxes and insurance.

Use escrow payment in a sentence

The escrow payment was always made on time so the buyer had their taxes paid in full with the state.

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Our escrow payment was something we had to look out for and everything went well with it and with us.

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After the latest escrow payment for her property taxes, Helen had fallen into a lower tax bracket as well as a deep state of depression.

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escrow instructions escrow receipt