Resources > Glossary > Escrow Account

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Escrow Account

Function: noun

Definition 1:
An escrow account is an account in which a mortgage servicer holds the borrower's escrow payments prior to paying property expenses. An escrow account could also be considered to be a trust account held in the borrower's name to pay obligations such as property taxes and insurance premiums.