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.
The lender may require that borrower put money into the account, known as the escrow's reserve. The reserve figure may be the minimum amount the lender requires in the account for the duration of the loan. Escrow reserves are not a prepaid finance charge because the money doesn't affect the loan's APR. A borrower who declines an escrow might have to pay an escrow waiver fee, which is considered a prepaid finance charge if the lender includes the fee in the APR calculation, reports the website My Equity Pro.