Finance
When a West Virginia lender requires 'escrow impounds' as part of a mortgage payment, the borrower is paying:
AOnly principal and interest each month
BPrincipal, interest, taxes, and insurance (PITI) into the lender's escrow account✓ Correct
CA penalty for paying off the loan early
DInterest only in the early years of the loan
Explanation
Lenders often require escrow impound accounts where borrowers pay principal, interest, property taxes, and homeowner's insurance (PITI) in monthly installments. The lender then pays taxes and insurance from the escrow account when due.
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