Prepaid Items

Items that generally must be paid for at the time of closing and are generally recurring charges. Prepaid items may include the following:
– First year premiums for hazard, flood, and Mortgage insurance, as applicable to the transaction,
– Prorated interest,
РAny special assessments which must be prepaid (i.e., water/sewer connection, etc.) and,
– Escrow accounts for any of the above.

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