Prepaid Items

By April 4, 2017 No Comments

Items that generally must be paid for at the time of closing and are generally recurring charges. Prepaid items may include the following:
– First year premiums for hazard, flood, and Mortgage insurance, as applicable to the transaction,
– Prorated interest,
– Any special assessments which must be prepaid (i.e., water/sewer connection, etc.) and,
– Escrow accounts for any of the above.

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