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Illinois Statutes Chapter 765. Property § 910/6. Interest bearing time deposit in lieu of escrow

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 6. In lieu of the mortgage lender establishing an escrow account or an escrow-like arrangement, a borrower may pledge an interest bearing time deposit with the mortgage lender in an amount sufficient to secure the payment of anticipated taxes.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 765. Property § 910/6. Interest bearing time deposit in lieu of escrow - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-765-property/il-st-sect-765-910-6/

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