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Get Organized for Taxes

by Vicki Graham, #1 Properties, Vicki@GrahamHouse.com

THE BASICS OF ESCROW

by Vicki Graham, #1 Properties, Vicki@GrahamHouse.com

THE BASICS OF ESCROW

The multitude of steps and terminology involved in buying a house can be overwhelming.  While a good Realtor will walk you through everything you need to know, it helps to have a firm understanding of some things before you get pre-approved and start making offers.

One key component involved in nearly every sale is the escrow, or impound account.  This is an account set up by your mortgage lender to pay certain property-related expenses on your behalf (property taxes and homeowner’s insurance).  Many (mortgage) lenders require an escrow account, to insure that the property is not at risk.  The fees can vary from year to year, and are generally rolled into monthly mortgage payments.

Many states require an escrow account, but even if yours doesn’t, it’s prudent to have.  Without an escrow account, homeowners will be responsible for large property-related bills in lump sums, and not always at convenient times.  Failure to pay property taxes in a timely manner will also result in fines and fees.

Mortgage Settlement Benefits Many Homeowners

by Vicki Graham, #1 Properties, Vicki@GrahamHouse.com

Your Top Home Ownership Tax Questions Answered

by Vicki Graham, #1 Properties, Vicki@GrahamHouse.com
  • Your Top Home Ownership Tax Questions Answered<>

    Which tax benefits do home owners miss? Will you get audited if you take the home office deduction? Find out the answers to these questions and more before Tax Day. Read

     

Visit houselogic.com for more articles like this.

Copyright 2013 NATIONAL ASSOCIATION OF REALTORS®

 

Displaying blog entries 1-4 of 4

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Contact Information

Photo of Vicki Graham, Broker Associate Real Estate
Vicki Graham, Broker Associate
#1 Properties
6106 Yellowstone Rd.
Cheyenne WY 82009
(307) 631-6884
307-773-8454