Similar to an escrow account; established to set aside funds for future needs relating to a property.
Related information about impound account:
- Understanding Mortgage Impound Accounts
May 28, 2009 ... An impound account (also called an escrow account, depending on ... An impound account ensures that the only person who will become ...
- Impound Definition | Investopedia
The purpose of the impound account is to protect the lender. Because low down- payment borrowers are considered high risk, the impound account assures the ...
- What is an escrow or impound account? - Consumer Financial ...
Mar 22, 2012 ... An escrow or impound account is an account that your lender may set up to pay certain recurring property-related expenses on your behalf, ...
- Impound Account Shortages - Home Buying and Selling - About.com
Are impound accounts beneficial to home buyers? What is an impound account? Is it the same thing as an escrow account? What happens when taxes and ...
- Escrow Impound Accounts: Do You Have a Choice?
Jun 4, 1999 ... It is very difficult to get a lender to cancel the escrow impound account once it is in place, and difficult to get the lender to pay out any interest ...
- Mortgage Impound (Escrow Account) Basics - Saving Advice Forums
If you own a home, you have probably heard of an impound account, ... So what is an impound account anyway, and is it a good idea?
- Dealing with Mortgage Impound Accounts
To track your impound account, look for the balance on your monthly mortgage statement. Federal law requires lenders to review impound accounts each year to ...
- Impound Account: Definition from Answers.com
Fund set aside for future needs. See also reserve fund . Previous: Impound , Imposition , Import Quota Next: Imprest Fun.