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Escrow Holdbacks

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sagarthakar Joined: 15 May 2007 Posts: 71 26.83 Dollars($)	Posted: Thu Nov 22, 2007 2:08 am    Post subject: Escrow Holdbacks When a Lender says that Escrow Holdbacks - allowed / not allowed .... and he doesn't mention abt requirement of Escrow for that particular loan .... Then just because he has mentioned about Escrow Holdback ... can we assume that the Lender is in other words sayin that Escrows are required .... Can anyone explain me about this please.
Michel Guest 0.10 Dollars($)	Posted: Thu Nov 22, 2007 3:33 am    Post subject: Hi, Yes, when the lender talks about an escrow holdback, he may refer to the requirement of an escrow account. Most lenders require this account to be set up for the payment of taxes and insurance. Escrow holdbacks are funds kept aside in this account used for minor repairs in the property.

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