Finance
A Mississippi buyer's 'impound account' (escrow account) held by their mortgage servicer collects monthly deposits for:
AFuture home improvements
BProperty taxes and homeowner's insurance premiums, paid on behalf of the borrower when due✓ Correct
CThe lender's servicing fee
DHOA assessments
Explanation
An impound (escrow) account collects monthly contributions toward the annual property tax and homeowner's insurance bills. The servicer pays these from the account when they come due, ensuring the lender's collateral is protected.
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