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a Question about Mortgage
1787
5
2006-07-12 17:12:00
read the last month mortgage bill carefully, there is one item called " own to escrow". What is that? Do you suppose to pay off all money owned to escrow @ closing? so bad we shredded the earlier statements but i am pretty sure it is a monthly charge (a break down item of the mortgage). Anyone can explain it a little bit?
and most state require the escrow acount can't hold more than your 2 month payment. if it hold too much, by the end of each year (12 month from your first payment), they should refund the extra part and adjust your next year's escrow acount payment.
I am clear about 2 楼, 非常感谢. but i am not sure about this one. more than 2 months' payment, what payment? could you use # to give me better idea?
another question about property. after closing, u got a package of docs and they explained to you page by page. we did not really look at them again after that. Now we got a Deed record which is like several pages with some official #. Is this the same as Title? I think I saw somewhere that they are different. if so, what does title look like? and how does this deed suppose to work? will the title be mailed to you after closing?
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