Finance
Mortgage escrow accounts in Indiana are used to:
AHold mortgage application fees
BCollect and pay property taxes and insurance premiums on behalf of the borrower✓ Correct
CStore the title insurance premium
DFund the inspection and appraisal
Explanation
Lenders typically require borrowers to pay monthly installments into an escrow account for property taxes and hazard insurance, which the lender then pays when bills come due, ensuring these obligations are met.
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