Both the lender and the borrower "benefit" from having an "impound account" since it ensures that the necessary money will be available to pay for "property taxes" and "insurance" when they become due.


These are questions that the above text answers:

1. What is an impound account in real estate?
2. Who benefits from having an impound account?
3. What expenses are covered by an impound account?
4. Why is it advantageous to establish an impound account?
5. What is the purpose of an impound account in relation to property taxes?
6. What is the purpose of an impound account in relation to insurance?
7. How does an impound account ensure that necessary funds are available for property taxes?
8. How does an impound account ensure that necessary funds are available for insurance?
9. What is the role of the lender in relation to an impound account?
10. What is the role of the borrower in relation to an impound account?