Escrow Accounts in Real Estate Transactions

Posted on January 23, 2008 by Nancy Liu | Category: English

When a buyer purchases a property with a mortgage, the mortgage lender often requires the borrower to set up an escrow account with the lender.  The purpose of an escrow account is to ensure that the borrower will pay the property’s property taxes and insurance premiums (hazardous insurance, or flood insurance, if any) on time. … Read More

Homestead Exemption

Posted on January 23, 2008 by Nancy Liu | Category: English

Here I would like to share a little knowledge that might save you big bucks in the future. I always like to remind homebuyers to apply for the homestead exemption at the end of the closing.  I vividly remember at one closing, while I was talking to the buyer about this, the seller was astonished. … Read More