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Does First Interstate Bank process taxes or insurance premiums?

April 26, 2017Bank Insurance interstate premiums process taxes

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Does First Interstate Bank process taxes or insurance premiums?

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A reserve account can be established for the payment of taxes or insurance related to the escrow. There is an additional $75 set up fee and a monthly fee of $3 for maintenance of the account. The buyer or seller is responsible for submitting tax and insurance statements to the Escrow Department. If there are not sufficient funds in the account to pay the taxes or insurance, the buyer and seller will be notified of the shortage.