What is escrow and how does it work? Escrow is a legal concept where a financial asset is held by a third party on behalf of two other parties that are in the process of completing a transaction.

Arvest's Mitch Wilkins shares some tips and information for monitoring your escrow statements and avoiding surprises.

— What is escrow? — How does escrow work? — Different types of escrow accounts. — The benefits of having an escrow account. [Read: The Guide to Understanding Your Home Value.] What Is Escrow?

How does escrow on a mortgage work? If you are required to have a mortgage escrow account, your lender will determine the amount you must deposit into escrow when you close on your home.

How does escrow work? In real estate transactions, escrow takes place when buying or selling a home and when paying your mortgage. Both of those scenarios use escrow differently. For a home purchase ...

In real estate, the purchase agreement is the agreement between the homebuyer and the home seller that spells out the terms of the transaction. As its name suggests, it’s a contract to purchase a ...