Mortgage escrow accounts are an important, yet widely misunderstood asset in the housing market. Although 80% of mortgage holders have escrow accounts, only 60% fully understand them, up from 52% in early 2024. And those who don’t understand are paying dearly.
That finding comes from a survey released Tuesday by tax and flood services provider LERETA. The December Annual Escrow Awareness survey questioned 1,000 homeowners on how their escrow accounts would affect their mortgage payments.
LERETA highlighted that 68% have experienced monthly mortgage payment increases due to rising property taxes and insurance premiums. Of that percentage, over details ⇒
BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com