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>The escrow agent just sat there impatiently twirling her pencil and sighing, but she never said a word That's because you're probably 1 out of 100 that actual

by MertsA 8y ago

>The escrow agent just sat there impatiently twirling her pencil and sighing, but she never said a word That's because you're probably 1 out of 100 that actually bothers to read and understand all of those documents. Your own realtor doesn't understand those documents and the vast majority of home buyers do not hire their own lawyer to check all of the documents and contracts they sign when buying a home. Whether it's worth it or not to actually read all of those documents and have a lawyer review them before signing or not, that's not what happens in the vast majority of cases. It's not an understatement that the majority of home buyers do not understand all of the obligations of their mortgage. >One of the papers you sign when getting a mortgage is one that says simply "I have read and understood all these documents." And I'm sure the EULA that everyone always skips says the same thing. That doesn't change the fact that almost no one actually has read and understood all of the documents.

WalterBright 8y ago
And yet if you sign "I have read and understood these documents", how can you claim in court that you didn't? BTW, I didn't have a lawyer review them. But they are not hard to understand. Probably a century of lawsuits have shaped their contents, and they are shaped by judgments against the authors of them when they are ambiguous or confusing. In fact, they're fairly standardized. I've never had trouble with mortgage documents, but I have had trouble with car loans, repeatedly. The terms we verbally agreed on were altered in the final document, always significantly in the lender's favor. I always make them fix it, and they'll lie and say those were the terms we agreed, or those terms are their policy, or those changes are immaterial, or they don't have the time to fix the documents, all kinds of crap. I.e. it's not that the documents are hard to understand, it's that they slip altered terms in them.

by MertsA 8y ago

WalterBright 8y ago

And yet if you sign "I have read and understood these documents", how can you claim in court that you didn't? BTW, I didn't have a lawyer review them. But they are not hard to understand. Probably a century of lawsuits have shaped their contents, and they are shaped by judgments against the authors of them when they are ambiguous or confusing. In fact, they're fairly standardized. I've never had trouble with mortgage documents, but I have had trouble with car loans, repeatedly. The terms we verbally agreed on were altered in the final document, always significantly in the lender's favor. I always make them fix it, and they'll lie and say those were the terms we agreed, or those terms are their policy, or those changes are immaterial, or they don't have the time to fix the documents, all kinds of crap. I.e. it's not that the documents are hard to understand, it's that they slip altered terms in them.