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An escrow account: Question 9 options: ensures that a default insurance policy...

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Finance

An escrow account:
Question 9 options:
ensures that a default insurance policy does not lapse if a borrower is in danger of default.
ensures that sufficient funds are collected to make annual hazard insurance and property tax payments.
is a non-interest-bearing account into which a borrower prepays certain fees and taxes.
is characterized by all of the choices.

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