Where cozy means tiny and charming means needs work.
A mortgage servicer's account holding funds for property taxes and insurance, where your money sits earning nothing.
When a buyer loses their earnest money deposit due to contract breach—the penalty for changing your mind with no valid excuse.
Funds deposited by a buyer to show serious intent to purchase—essentially a financial hostage held for good behavior.
A fraudulent scheme where someone strips a property's equity through inflated refinances or loans, leaving the owner with debt and negative equity.
The entity (typically a title company or real estate firm) responsible for holding the earnest money deposit in a trust account until closing. The referee who decides whose money it is if the deal falls apart.
An acronym for East Downtown Houston, a neighborhood designation in Houston, Texas that real estate and locals use to pinpoint specific districts.
The disbursement of funds held in escrow upon satisfaction of contingencies, basically permission to finally relax.
Money held at closing to secure future obligations like repairs that weren't completed—basically a hostage fund to ensure contractors actually finish their work.