Now we are looking on the crossword clue for: Account associated with a mortgage.
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Possible Answers:
Escrow.
Last seen on: Daily Celebrity Crossword – 1/14/19 People Sunday
Random information on the term “Escrow”:
Closing (also referred to as completion or settlement) is the final step in executing a real estate transaction.
The closing date is set during the negotiation phase, and is usually several weeks after the offer is formally accepted. On the closing date, the ownership of the property is transferred to the buyer. In most jurisdictions, ownership is officially transferred when a deed from the seller is delivered to the buyer. Lenders providing a mortgage loan will often require title service, including title search and title insurance, appraisal, land survey, and attorneys to be involved.
Several things happen during closing:
It is common for a transaction to close on one day but possession of the home occurs at a later date. The buyer rents the house back to the seller during the interim period. If the clause in the contract is worded improperly, the buyer is liable for damage done by the ‘tenant.’ As a rule, addendum and creative clauses should be reviewed by a real estate attorney to insure compliance with local law and protection for all parties.[1]