I only had one bad experience with a loan. I got a variable rate loan on a car while I was in college. I knew it was variable. The only part I didn't know to check was that the introductory rate quoted had absolutely nothing to do with the index rate plus the spread. After three months the rate jumped from 9% to 14%. I went back to the loan documents, checked what index was quoted, found it in the Wall Street Journal and realized that I had been screwed. I will never make that mistake again.
“If only there was someone out there who could read complicated legal documents and advise me on them... oh, wait, that’s called a lawyer.”
....absolutely!!....if you know real estate law, then you can act as your own lawyer at settlement and save the money....if you DON’T know the law, then you damn sure better get a real estate lawyer....the lawyer’s fee is the LEAST expensive part of the deal.