What is the term for the part of a mortgagor's monthly payment that is held to cover taxes and insurance?

The term used to describe the portion of a mortgagor's monthly payment that is set aside to cover future property taxes and homeowners insurance is "escrow payment." This amount is collected by the lender and placed into an escrow account, which is a type of account specifically designated for holding funds on behalf of the mortgagor until the taxes and insurance premiums are due.

By making these payments into an escrow account, borrowers effectively ensure that they have the necessary funds available to meet these obligations when they arise, reducing the risk of falling behind on tax or insurance payments. Managing these expenses through an escrow payment helps borrowers maintain their financial health and ensures compliance with loan and property ownership requirements.

Other terms such as "escrow disbursement" refer to the actual release of funds from the escrow account for paying the taxes or insurance, while "delinquency payment" and "deposit payment" do not accurately describe the function of managing periodic payments for taxes and insurance in a mortgage context.