Updated about 2 years ago on . Most recent reply
Escrow- what exactly is this?
Hello,
I purchased my first property recently.
In the closing costs, I prepaid for 1 year of property insurance.
In this case, I would assume I would not be paying monthly insurance premium for the first year, because, I have prepaid one year.
However looking at my upcoming monthly payment, it looks like the insurance premium is still included. Why? Am I not double paying in this case?