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escrow – Money set aside for a specific purpose or condition. For example, the deposit by a borrower with the lender of funds to pay taxes and insurance premiums when they become due, or the deposit of funds or documents with an attorney or escrow agent to be disbursed upon the closing of a sale of real estate. Also check out Mr. Thifty's Guide to Shopping for a MortgageAbout Mr. Thrifty: Mr. Thirfty's goal is to help others make the most out of their financial resources through education, suggestions and humor. If you like what you see, tell your friends about Mr. Thrifty!
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