Question 1

Are a fee and initial deposit required to establish an escrow account?

Sonam Naik · Accepted Answer

There is no fee required to establish an escrow account with Rushmore, but a deposit for the purpose of creating an initial balance in your escrow account is required. Over the first 12 months that your escrow account is active, Rushmore will collect a deposit in 12 equal payments. This amount is in addition to what is collected to pay all installments of taxes and/or insurance premiums to be paid from your escrow account.

Question 2

Are a fee and initial deposit required to establish an escrow account?

Sonam Naik · Accepted Answer

There is no fee required to establish an escrow account with Rushmore, but a deposit for the purpose of creating an initial balance in your escrow account is required. Over the first 12 months that your escrow account is active, Rushmore will collect a deposit in 12 equal payments. This amount is in addition to what is collected to pay all installments of taxes and/or insurance premiums to be paid from your escrow account.