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Do FHA loans require impound accounts?

Posted by RCPAP on February 19, 2007
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Do FHA loans require impound accounts? Yes, according to the “Realty Bluebook,” 30th Ed., Dearborn Financial Publishing, Chicago; 1993: “Under FHA financing it is the lender’s responsibility to ascertain that property taxes and hazard insurance premiums are paid when due. Lenders, therefore, will insist that the monthly payments include proportionate amounts for taxes and insurance.”