An escrow account holds funds to pay property taxes and homeowners insurance. Read on to understand what happens if you end up with an escrow shortage and the steps needed to resolve it.

She also writes biographies for Story Terrace. Investopedia / Paige McLaughlin Escrow is a legal concept describing a financial agreement where assets or money are held by a neutral third party on ...

Most people never encounter the concept of escrow until they buy a home. Escrow accounts are set up by third parties as a safe place to hold money. They are used for two main purposes when it ...