Knowledge is Power: What is a Mortgage Escrow?

When you are in the process of buying a home, the more you understand about the process, the more empowered you are to make agreements that fit your family’s needs. We at Brighton Escrow salute your efforts to learn about every phase of the process of closing on the home of your dreams.

One of the necessary parts of the closing process is choosing an escrow agent. The escrow agent is a neutral third party that holds a portion of your funding to deal with irregular or unanticipated costs such as taxes and insurance. The escrow company is also responsible for handling title insurance; prorating rents, insurance and taxes; and acting as an intermediary between you and the holder of your mortgage. Your mortgage company cannot choose your escrow company; this is a decision that must be made by the buyer. A competent escrow service ensures that everything is in place and your transactions with the bank and other entities go smoothly.

Knowing that your mortgage escrow is in capable hands brings piece of mind. Contact one of our agents for all of your California escrow needs.

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