Finance
Mortgage escrow accounts in Louisiana are used to:
AHold the buyer's earnest money deposit
BCollect monthly amounts for property taxes and insurance so the lender can pay them when due✓ Correct
CStore closing documents
DFund the broker's trust account
Explanation
Mortgage escrow accounts collect monthly contributions from the borrower for property taxes and homeowner's insurance. The lender manages these funds and pays the bills when they come due.
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