Finance
A Missouri borrower's 'impound account' (escrow account) held by the lender serves to:
AHold the earnest money deposit
BCollect and hold monthly portions of property taxes and insurance to ensure they are paid when due✓ Correct
CReserve funds for property improvements
DStore the deed
Explanation
An impound/escrow account collects monthly 1/12th portions of annual property taxes and insurance. The lender uses these funds to pay taxes and insurance directly, protecting their collateral.
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