What are reserves for a mortgage and how much do you need?
They’re a financial cushion to meet your monthly payments. But what makes them mandatory?
Mia Taylor is a contributor to Bankrate and an award-winning journalist who has two decades of experience. She has worked as a staff reporter or contributor for some of the nation's leading newspapers and websites including The Atlanta Journal-Constitution, the San Diego Union-Tribune, TheStreet, MSN and Credit.com.
They’re a financial cushion to meet your monthly payments. But what makes them mandatory?
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