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Voluntary escrow accounts

Question: 
What makes it a voluntary escrow account?
Answer: 

A voluntary escrow account is one that is under the borrowers complete control. In other words, the bank might administer it for them but they can close it any time they want. A voluntary escrow is not a contract requirement and is not mandated by the bank.
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Learn more about David Dickinson’s webinar
Escrows From A to Z

First published on 07/30/2017

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