Real Estate Video Series 5--Escrow/Impound account

As a buyer, the whole buying process can be very stressful.  Once you complete the transaction, how do you keep track of all the payments? A great way to do this is to set up an escrow or impound account (same thing, different name).

Escrow during the buying process is traditionally a neutral 3rd party that handles paperwork and disburses money according to the ratified contract.  But afterwards, they can act as 3rd party that does the same thing for the buyer's mortgage/tax/insurance payments.