$700 B Bailout

[Slingin Sammy 33]

Originally Posted by saden1

Assuming you own your own home I am curious as to how many people in here actually read their loan documents in their entirety before they signed them?

I didn't read every last document to the letter, but I reviewed the settlement documents and loan repayment schedule and fees in detail on every home transaction I've done. I've never gone for an ARM, only 30 year fixed rate mortgages.

If you're making a six figure financial decision it's definitely your responsibility to understand what's going on or get an independent attorney to review and explain the documents to you.

This financial crisis is about much, much more than the 5% or so of mortgages that are defaulting. There is plenty of blame to go around on both sides of the aisle and from Wall Street to Main St. We all share in some of the blame here. It's just an egregious shame that Congress can't get a package together to stem the crisis.