Foreclosures: Are You Reading the Small Print

26. March 2008 by Steve Topel.

It’s not unusual to sign your name on an important document without totally reading and understanding the content. Millions do it all the time. Unfortunately, millions are now seeing with the foreclosure crisis that they were either mislead or truly didn’t understand what they were signing. This happens all the time because most middle class citizens can’t even think of hiring an attorney due to the cost. This leaves millions in a very vulnerable position. While their are many honest business people in the world, the foreclosure crisis has shown that mortgage lenders are sales people and the more sales they get the more commissions they ring up. Ultimately the consumer will get blamed for purchasing a house they really couldn’t afford. However, when your mortgage lender is telling you, you can afford this priced house, the consumer is comforted. The consumer normally does not get a second opinion and relies on the mortgage sales person to be their de-facto lawyer. This is foolhardy. The consumer must get legal advice on such an important decision. The documents need to be reviewed by a trained lawyer who specializes in this field. No consumer should do this alone and without representation. The foreclosure crisis would not be at this extreme level if all of these foreclosed consumers had consulted an attorney.

Getting this legal advice is now affordable and all citizens should sign up for this service so all of life’s decisions are made with qualified and objective legal assistance. See my link on PrePaid Legal for more info and get Reasonable Lawyers.

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