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MKD
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Can a servicer of your mortgage set up an escrow at anytime?
Friends house is almost in foreclosure. Can the servicer of the loan go and pay the property taxes and then set up an escrow account? They had been paying the taxes and insurance on their own, so their loan papers had no escrow account set up.
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- ?Lv 71 decade ago
Yes the lender can. The minute the owner fails to make payments on time the void their contract and are now subject to an escrow account
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