Originally Posted By: Maven
Three years ago as this crisis was dot on the horizon, there were complaints that lenders were taking advantage of home buyers who didn't understand the paperwork. In my less than complimentary opinion, that it not the fault of the lender! When I purchased my house, I was asked if I understood the contents for every single page I signed. If I said yes dishonestly, how could that be the fault of the lender? Laws passed to prevent this sort of thing will be unwieldy at best, and a poor service to the careful buyer..


I understand, but if I was asked to sign off on understanding the theory of relativity so I could own a house, I probably would. what I really mean is that the language used in those contracts, carefully chosen by the lender, is enough to obfuscate anyone.

formerly known as etaoin...