Buyer owes Seller for prorated share of taxes from April 16-June 30. If the Buyer or Seller receives a payment, it is reflected as a - figure, or a credit to the expenses that they must pay. When it appears without a -, then it is an expense that they pay. Revision is to the dollar amount. The default is 3 months of the new taxes.
Revision is to dollar amount.
The default is 3 months. Same as tax impounds, except that it is used to pay the annual insurance premium. Prepaid Interest Interest on First Loan. Default is 30 days. This is interest on the days that you own the house before the first payment.