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What is an escrow account and why do we have to pay one now…

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what is an escrow account...
what is an escrow account and why do we have to pay one now if we did not have to pay one last year when we purchased our home? also what is the surplus tax that we did not have to pay either but now are to pay. My husband is disabled vet. and we have a V.A. loan.
Submitted: 2 years ago.Category: Real Estate Law
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3/5/2016
Real Estate Lawyer: Richard, Lawyer replied 2 years ago
Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 57,216
Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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Hi Stephanie. My name is ***** ***** I look forward to helping you.

Can you provide me a bit more information? No, are you refinancing or is this the same loan? Were you late on any of your loan payments during the first year? Thanks.

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