What reimbursements can I expect to receive at settlement or closing?

Reimbursement somewhat offsets the costs of settlement or closing, and you're due all of the following applicable refunds:

- Insurance premiums you've already paid.
- Interest on the mortgage you've already paid for the portion of the month after settlement or closing.
- Property taxes you've already paid.
- Utility deposits held by gas, water, electric and phone companies.
- Remainder of any service contracts you've already paid.
- Balance of any escrow funds held by your mortgage lender.

Escrow:

The placement with a neutral party of funds or documents for holding until terms and conditions of a contract or agreement are fulfilled.