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Question about Eskrow payment
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My neighbor who speaks very little english is asking me about eskrow. She told me she owns a property where the mortgage is 580,000. She pays $4000 a month for mortgage. After a year on this mortgage she saw something called eskrow fee. I tried googling it but nothing is helpful. The eskrow fee is $500. On the statement theres something called eskrow balance. My question is will she keep paying eskrow fee until she finishes paying her mortgage or until the balance is done? once the balance is done is eskrow fee over with?
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- 8 years ago
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