[TruthShallSetYouFree]

She refinanced in 2003, but did not realize the document she signed included provisions to radically increase the interest rate.

No point in reading and understanding a document that contains potentially life-altering consequences.

[elpadre]

“but did not realize the document she signed included provisions to radically increase the interest rate.”

I thought there was a federally mandated requirement for mortgage bankers closing loans to explain the details of the loan and have the borrower sign a document that they understand.

[Ronin]

The way that contracts are written these days, with masses of clauses, subclauses, weird legalese... is it any wonder?

[tiki]

I’ve bought a lot of property, I have been informed at every closing, verbally, about my loan situation they go through it and you have to sign it. My complaint has been how they treat you like little children but maybe my exerience is different, I dunno, or maybe some people need to be treated like children.