Complete Guide to Escrow. Get the information you need--fast! This comprehensive guide offers a thorough view of key knowledge and detailed insight. It's all you need.
Here's part of the content - you would like to know it all: Delve into this book today!..... Escrow companies are also commonly used in the transfer of high value personal and business property, like websites and businesses, and in the completion of person-to-person remote auctions (such as eBay), although the advent of new low cost online escrow services has meant that even low cost transactions are now starting to benefit from use of escrow.
... An unrelated type of escrow is when a purchaser of a complex system, such as bespoke process control software or a large industrial installation, may require the supplier to place the design into source code escrow, so that the purchaser remains in a position to maintain and modify the system in case of the demise of the supplier.
...If, even at its lowest point, the escrow account has a projected balance greater than the minimum balance requirement, federal guidelines-the Real Estate Settlement Procedures Act of 1973 (RESPA)-require that the mortgage company refund the difference to the customer.
...For instance, if a hazard insurance premium increases by $120. 00 per year, the escrow payment will need to increase by $10. 00 per month to account for this difference (in addition to collection for the resulting escrow shortage when the mortgage company paid $120. 00 more for the hazard insurance premium than what was anticipated).
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Inside the Book: Escrow, Vending machine, Source code escrow, Power of attorney, PITI, Custodian bank, Commingling, Closing (real estate), Bogus escrow, Escrow
