A+E Networks. On this day in 1865, the U.S. House of Representatives passes the 13th Amendment to the Constitution, abolishing slavery in America.The amendmentread, âNeither slavery nor involuntary servitudeâ¦shall exist within the United States, or any place subject to their jurisdiction.â.
1 Add an escrow account to your loan. 2  Purchase new homeownersâ insurance for you and bill you for it. 3  This lender-purchased insurance, known as force-placed insurance, is typically more expensive than regular homeownersâ insurance. 4  It only protects the lender, not you, in the event of damage to your home.n escrow account makes it easier to pay your large property-related bills by paying small amounts with your mortgage payment each month. That way you donât have to scramble to pay a large property tax bill or insurance premium.
You can expect to place an additional 1-2 months of taxes and insurance into a new escrow account in addition to your current escrow balance. For example: you owe $100,000, your current escrow balance is $1,500, and your current monthly escrow payment is $200.At settlement, your payoff will be $98,500.Your new lender may require you to place $1,800 into the new escrow account, $300 of which is new money, and $1,500 representing the balance in your existing escrow account.he lender must perform an escrow account analysis once a year and notify you of any shortage, or surplus. The lender can require that you pay the amount needed to correct a shortage. If the escrow account has a surplus of more than $50, the lender must return that amount to the borrower.