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Updated almost 12 years ago, 02/20/2013

Matt M.'s profile image
Matt M.'s profile image
Matt M.
  • from Orchard Park, New York
  • Member since Nov 8, 2012
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82
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Matt M.'s profile image
Matt M.'s profile image
Matt M.
  • from Orchard Park, New York
  • Member since Nov 8, 2012
Connect
Matt M.
  • Orchard Park, NY
1
Votes |
82
Posts
Starting Out

What is escrow?

Matt M.
  • Orchard Park, NY
Posted

I know this is probably a terribly stupid question, but I was not pleased when I saw that escrow on a $96.5k loan was nearly the principle; like $3xx and change! Thats crazy!
So what exactly is escrow, and why do I have to pay it?

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