...serving Elmore County since 1902...
In the 1930's, many Americans were losing their homes in foreclosures because of late tax payments. To help ease the burden on homeowners, lenders agreed to take on the responsibility by collecting smaller monthly sums from homeowners along with their mortgage payment. In 1934, the government mandated that lenders manage escrows on all FHA insured mortgages. Becoming the standard practice for all mortgages.These accounts ensure that homeowners' property taxes, fire and hazard insurance premiums, mortgage insurance premiums and other escrow items are paid in on time. Helping homeowner avoids the risk of lapsed insurance coverage or delinquent taxes. As the Escrow Officer at Guaranty Title, if you have questions or concerns about escrow accounts...call me, at 587 9091...Sheryl
