People use the escrow process in the international trade, stock market and, most commonly, real estate arenas. Prospective homeowners go through the escrow process when they close on the sale of a ...

When you obtain a new mortgage or refinance an existing one, the lender may require you to open an escrow account, which is an account he uses to make your property tax and home insurance payments.

An escrow account, also known as an impound account, is a holding area for assets that can be traded, such as money or stocks. In the case of real estate, a lender might require higher-risk borrowers ...