A+E Networks. On this day in 1865, the U.S. House of Representatives passes the 13th Amendment to the Constitution, abolishing slavery in America.The amendmentread, âNeither slavery nor involuntary servitudeâ¦shall exist within the United States, or any place subject to their jurisdiction.â.
1 Add an escrow account to your loan. 2  Purchase new homeownersâ insurance for you and bill you for it. 3  This lender-purchased insurance, known as force-placed insurance, is typically more expensive than regular homeownersâ insurance. 4  It only protects the lender, not you, in the event of damage to your home.n escrow account makes it easier to pay your large property-related bills by paying small amounts with your mortgage payment each month. That way you donât have to scramble to pay a large property tax bill or insurance premium.
Escrow Cushion. Lenders prefer to maintain cushions in escrow accounts, keeping more money available than is necessary for current bills. The purpose of a cushion is so that the lender can keep making tax and insurance payments from the escrow account even if you fall behind on mortgage payments.f the balance in an escrow account exceeds the maximum amount allowed, then federal law addresses how the surplus can be distributed. For a surplus of greater than $50, the lender must return the excess funds to you rather than keep the money in the escrow account.