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Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:

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Waive Escrows

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In some cases, the lender will allow the borrower to pay the necessary taxes and insurances directly. When operating this type of clause, it is common for the lender to require that the funds to cover these expenses are put in escrow to be held by a third party until they are required. This term is known as a waive escrow.

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