Life Expectancy Set-Aside (Lesa) (applicable to HECMs only)

Life Expectancy Set-Aside (Lesa) (applicable to HECMs only)

Life Expectancy Set-Aside (LESA) refers to a Set-Aside account that is established for the payment of property taxes, Hazard Insurance, and, if applicable, Flood Insurance until expended or while the HECM is not in Due and Payable status. LESA funds cannot be held in an escrow account.