Escrow

Most U.S. mortgages require an escrow (or impound) account. Each month the lender collects one-twelfth of the annual property tax and insurance bills alongside your principal and interest payment, then pays those bills directly when they come due.

Escrow protects the lender's collateral (unpaid taxes can trigger liens, uninsured damage can destroy the home) and smooths big annual bills into monthly installments for the borrower. High-down-payment borrowers can sometimes waive escrow.

Why it matters for Milo customers

Milo crypto-backed mortgages use traditional real estate escrow for closing — title, taxes, insurance, and property settlement go through a licensed escrow agent. The crypto custody piece runs in parallel through Coinbase or BitGo.

---