What does escrow mean when buying a house?
Escrow means two things: a neutral party holding money (like your earnest money) during the purchase, and the account your lender uses after closing to pay your property tax and insurance. ListingCraft for Buyers includes prepaid escrow items in your estimated cash to close.
At closing, lenders usually collect several months of tax and insurance up front to start the escrow account. These are called prepaids.