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You are assisting an attorney in the closing of a loan made by a federally insured savings and loan association to facilitate the purchase of
You are assisting an attorney in the closing of a loan made by a federally insured savings and loan association to facilitate the purchase of a home. The loan is closing on October 15. This first payment under the loan will be due on December 1. The real estate taxes on the home for the current year were due and payable on September 1, and they have been paid in the amount of $1,800. If the lender requests that you escrow taxes under its loan, how much money do you need to collect for the escrow at the closing on October 15.
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