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If you’ve never bought a home before, or if it’s been a while since you’ve bought a home and you want to brush up on some things, you’ll want to learn the ins and outs of your home loan estimate. 

One of those line items will be escrow reserves - aka an account you pay a pre-determined amount into via your monthly mortgage payment, usually reserved for homeowners' insurance and yearly property taxes.

That amount is usually collected in either an impound that is held until it's funded, then dispersed, or escrow account until the expenses need to be paid. 

Want to learn the full ins and outs of an escrow account? See Article: 
» Understanding Escrow Accounts