how does escrow work 
escrow required by mortgage lenders involves making monthly payments for property taxes and homeowners insurance into an escrow account held by a third party if escrow is required by the lender or requested by the borrower the monthly payment will include principal and interest for the loan as well as amounts for property taxes and homeowners insurance the lender will keep the amounts for taxes and insurance in the escrow account then when the bills come due they will make the appropriate payments 