FinancingMEDIUM
Under RESPA, which fee is NOT typically included in escrow accounts?
Correct Answer
C) Mortgage interest
Escrow accounts typically hold funds for property taxes, homeowners insurance, and flood insurance (if required). Mortgage interest is paid as part of the monthly payment but is not held in escrow. Escrow accounts help ensure these obligations are paid when due.
Answer Options
A
Property taxesB
Homeowners insuranceC
Mortgage interestD
Flood insuranceVideo Explanation2 min
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Related Topics & Key Terms
Related Topics:
escrow-account-managementmonthly-mortgage-payment-breakdownclosing-disclosures-respa
Key Terms:
RESPAescrow accountmortgage interestproperty taxesRegulation X
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