escrow

A contractual arrangement whereby money or assets are held in trust by an independent agent by the agreement of the parties, which can only be released to the relevant party once certain contractual conditions have been fulfilled.

GCN staffers wrote and called our landlords, complaining about the building's disrepair, for months before informing them, in September, 1985, that we would pay our rent into an escrow account until repairs were made.

The court will decide which party is the rightful owner of the items in escrow.

The money or assets so held.

To place in escrow.

The regulators suggest that in underwriting these loans, lenders be required to take into account the ability of the borrowers to make monthly payments at the higher rates and also property taxes and homeowners insurance, which are often not escrowed monthly in subprime loans.