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Annual Mortgagor Statement
An annual mortgager statement describes the summary that borrowers receive once a year from their lender. This statement provides details about how much of the borrower's monthly payments went to insurance and property taxes. It also gives details about how much of the principal balance has been paid and how much is outstanding. The annual mortgager statement can help borrowers understand where their money is being allocated throughout the year. The annual mortgager statement also serves as verification that taxes and insurance premiums are being paid just in case there is a question raised by the local tax office or the insurance company. Keeping this statement in a safe and secure location is advisable. Some lenders provide online access to annual mortgager statements. This is a fast and easy way to find out the total that has been paid towards the loan in the past year.