Understanding escrow: How it works in homebuying
It’s not complicated, but it involves several steps. Here’s how to navigate them.
7 min read
Jul 28, 2025
Erik J. Martin
Contributor, Personal Finance
EXPERTISE
- Personal finance
- Mortgages
- Housing market
- Home improvement
- Credit cards
EDUCATION
- Bachelor of Arts, Loyola University Chicago
- Dale Carnegie Training
Erik J. Martin is a contributor to Bankrate covering personal finance, including mortgages, the housing market, home improvement and credit cards. Based in the Chicago area, he is host of the “Cineversary” podcast and blogs on Cineversegroup.com and Martinspiration.com.
In addition to Bankrate, Martin has contributed to AARP The Magazine, Tte Chicago Tribune, Reader’s Digest, The Costco Connection and USAA, among other outlets.
Erik J.'s latest articles
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Joint mortgages: What are they and should you get one?
Joint mortgages are certainly possible, but they don’t necessarily mean joint ownership.
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Primary residence: What it means and rules to know
Make the most of your investment: Learn what it means to have a primary residence.
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How to buy a house with a low income
Yes, you can buy a house with a low income.
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Mortgage refinance: What is it and how does it work?
Everything you need to know before you start switching out your home loan.
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Should you give income updates to your credit card issuers?
If your credit card issuer asks for an income update, you can choose how to respond.
5 min read Jul 01, 2025 -
2025 Q3 housing market trends: Hot temperatures bring a cooler market
The housing market in Q3 2025 is unlikely to bring lower home prices.
5 min read Jul 01, 2025 -
What is the Home Mortgage Disclosure Act (HMDA)?
It’s a way that you can get a sense of how a lender treats borrowers like you.
3 min read Jul 01, 2025