Finance
A Maine buyer's lender requires an escrow account for taxes and insurance. The lender collects monthly amounts to ensure:
AThe lender can invest the funds for profit
BFunds are available to pay property taxes and insurance premiums when due✓ Correct
CThe borrower always pays more than the required monthly payment
DThe property tax assessment is kept current
Explanation
Mortgage escrow accounts collect monthly contributions for property taxes and insurance (and sometimes HOA fees), ensuring the lender's collateral is protected by paying these obligations when they come due.
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