A lender may add 1/12th of the estimated cost of the annual property taxes and hazard insurance

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A lender may add 1/12th of the estimated cost of the annual property taxes and hazard insurance on the mortgaged property to the monthly loan payment deposit in:

a) a PMI account

b) a margin account

c) an impound, escrow, or reserve account

d) an adjustment account

Related Book For answer-question

South Western Federal Taxation 2015

ISBN: 9781305310810

38th edition

Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young

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Posted Date: Dec 23, 2020 01:30 AM

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A lender may add 1/12th of the estimated cost of the annual property taxes and hazard insurance

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Expert Answer:

Correct answer is option C an impound escrow or reserve account A lender may add ... View the full answer

South Western Federal Taxation 2015

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