Posted on: 21st Jul, 2009 05:38 pm
How long does it take escrow to close?
Hi, It usually takes 30-45 days to close escrow.
An escrow account is commonly used by lenders to make sure property taxes and homeowners are paid. Closing escrow account is only possible when you no longer are paying PMI. In that sense, if you are not paying PMI at all, some loans will allow you to pay taxes and insurance yourself and avoid setting funds aside for an escrow account.