Real Estate Settlement Procedures Act (RESPA) – Escrow Account Protections and Limits (Section 10)
The Real Estate Settlement Procedures Act (RESPA) provides critical guidelines for the handling of escrow accounts in the context of real estate transactions, particularly under Section 10. This section is designed to protect borrowers by regulating how lenders manage escrow accounts for taxes, insurance, and other property-related charges. Understanding these protections can empower borrowers, ensuring … Read more