Mortgage Statement

What is a mortgage statement?

Mortgage Statement Definition: Mortgage statements are usually prepared annually, and sent to a mortgagor by the service or financial institution that handles the mortgagee’s account. This statement provides details, including the total amount of interest paid on the mortgage, the balance of the mortgage as of the statement, changes to the loan, terms, and the current interest rate.

If taxes in escrow or insurance are paid along with the mortgage, this will be included in the annual statement. A borrower may receive a mortgage statement more often, such as once every six months or upon request.

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