If nobody explained that they were subject to large variation in their future monthly payments, they should sue their G-Damned lawyer for bad representation!
First let me state that I dislike all lawyers.
That being said you do not know what you are talking about. Lawyers are paid at closing to state condition of title and to make sure the lender has first lien and that is all. If you hire an out side lawyer to represent you at closing that is a different matter, but it is not the normal course of business.
Here in California normally there are no lawyers directly involved. Obviously lawyers write the various forms used in the transaction but no laywers are used normally. At least in normal home transactions.
.............If you hire an out side lawyer to represent you at closing that is a different matter, but it is not the normal course of business................
Well, every time that I have an inch + thick stack of papers on a desk, putting me on the hook for hundreds of thousands of $$$, I have always paid the $100 to $150 to have my RE attorney go through the stack, papers that he sees each day, every day, to be sure everything is in order with the loan approval and P&S docs.
Call me stupid to waste my money!