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The University does not impound for either property taxes or hazard insurance premiums. Inspection Reports: Reports ordered by the borrower to assess the quality of the home.
Typically, this includes a Termite Report and whole house inspection. Other reports that may be ordered include roof, foundation, geological, and, septic tank inspections. Interest: Consideration in the form of money paid for the use of money, usually expressed as an annual percentage. Also, a right, share or title in property. Interest-Only Payment Loan: A non-amortizing loan in which the lender receives interest during the term of the loan and principal is repaid in a lump sum at maturity.
IRS 1098 Mortgage Interest Statement: A statement provided by the lender to the borrower indicating the total amount of interest paid by the borrower for a given calendar year.
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